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American Express (AXP) Crosses Pivot Point Support at $59.10
[January 31, 2013]

American Express (AXP) Crosses Pivot Point Support at $59.10

Jan 31, 2013 (SmarTrend(R) News Watch via COMTEX) -- American Express (NYSE:AXP) has opened bearishly below the pivot of $59.39 today and has reached the first level of support at $59.10. Should the shares continue to fall, the support pivots of $58.88 and $58.37 will be of interest.

There is potential upside of 8.6% for shares of American Express based on a current price of $59.55 and an average consensus analyst price target of $64.65. The stock should discover initial support at its 50-day moving average (MA) of $57.85 and subsequent support at its 200-day MA of $57.40.

Over the past year, American Express has traded in a range of $48.90 to $61.97 and is now at $59.55, 22% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.


SmarTrend recommended that subscribers consider buying shares of American Express on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.32. Since that recommendation, shares of American Express have risen 5.3%. We continue to monitor AXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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