American Express Company (AXP) : Traders are bullish on American Express Company (AXP) as it has outperformed the S&P 500 by a wide margin of 3.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.21%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.64% in the last 1 week, and is up 6.55% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
American Express Company (NYSE:AXP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $64.54 and $64.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $65.71. The buying momentum continued till the end and the stock did not give up its gains. It closed at $65.52, notching a gain of 2.47% for the day. The total traded volume was 4,863,805 . The stock had closed at $63.94 on the previous day.
The stock has recorded a 20-day Moving Average of 2.75% and the 50-Day Moving Average is 3.97%. American Express Company is up 2.08% in the last 3-month period. Year-to-Date the stock performance stands at -4.45%.
American Express Company (AXP) stock is expected to deviate a maximum of $9.69 from the average target price of $63.92 for the short term period. 13 Street Experts have initiated coverage on the stock with the most promising target being $80 and the most muted being $43.
American Express Company is a global services company. The Companys principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Companys segments include U.S. Card Services, International Card Services, Global Commercial Services and Global Network & Merchant Services. The Companys United States banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.