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Category: American Express (AXP) and Technical Analysis
Date: 18 January 2021 Stock price of American Express (AXP): $122.15 Ever wondered where the support and resistance levels for American Express (AXP) stock is? Is it a good time to buy or is there a dip in its future? We take a look at potential support and resistance levels of American Express (AXP).
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So should APPL stock pull back from its current price, the first support level will be at $130.47, its 10 day moving average, after which its 30 day moving average should be seen as the next support level which is at $127.96"
More About American Express (AXP)
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. The American Express Company is a multinational financial services corporation headquartered at 200 Vesey Street in the Financial District of Lower Manhattan in New York City. The company was founded in 1850 and is one of the 30 components of the Dow Jones Industrial Average
American Express card
Technical analysis of American Express
While there are many different technical analysis indicators we tend to follow the principle of keeping things simple. The KIS principle. So we will take a look at the shorter term moving averages and the longer term moving averages. So let's focus at the longer term moving averages first. The image below shows the stock price of AXP as well as its 50 day and 200 day moving average.
Turning our attention to the moving averages one can see the 50 day moving average is well above the 200 day moving average (which is a positive sign for a company's stock price). If the 50 day moving average crosses below the 200 day moving average it is a negative sign and indicates potential stock declines. From the image above one can see the 50 day moving average is far away from the 200 day moving average.
The 50 day moving average and 200 day moving average also shows medium and long term support levels for a stock price. So should AXP stock decline it will find medium and longer term support at the following prices:
Turning our attention to the moving averages one can see the 50 day moving average is well above the 200 day moving average (which is a positive sign for a company's stock price). If the 50 day moving average crosses below the 200 day moving average it is a negative sign and indicates potential stock declines. From the image above one can see the 50 day moving average is far away from the 200 day moving average.
The 50 day moving average and 200 day moving average also shows medium and long term support levels for a stock price. So should AXP stock decline it will find medium and longer term support at the following prices:
- 50 day moving average: $117.68
- 200 day moving average : $101.51
American Express (AXP) stock price history with 50 day and 200 day moving average
The image below is similar to the above expect the moving averages are a lot shorter, however they are interpreted in exactly the same way as the longer term moving averages. Right now the 10 day moving average is well above the 30 day moving average, but the 10 day moving average is slowing and starting to turn negative. So let's take a look at the support levels provided by the 10 and 30 day moving average.
So should AXP stock pull back from its current price, the first support level will be at $121.42 its 10 day moving average, after which its 30 day moving average should be seen as the next support level which is at $120.25
- 10 day moving average: $121.42
- 30 day moving average : $120.25
So should AXP stock pull back from its current price, the first support level will be at $121.42 its 10 day moving average, after which its 30 day moving average should be seen as the next support level which is at $120.25
American Express (AXP) stock price history with 10 day and 30 day moving average
Support and resistance levels for American Express (AXP) stock based on pivot points
Lastly we take a look at the support and resistance levels of American Express (AXP) based on pivot points. Pivot points are calculated by taking the average of the high, low and closing price over a particular period selected (in this case a month)
Support and resistance levels for American Express (AXP) stock based on pivot points
Below a summary of the resistance levels, pivot point and the different support levels:
So should the stock of American Express hit $136.25 it might struggle to get past that level and if it does its next resistance levels will be at $131.58. However should the stock of American Express (AXP) decline below the pivot value of $119.98 it will most likely find support at $114.65 and if it falls below that the next support line level is at $108.38 and should it fall below that support for American Express (AXP) stock will be found at $103.05
- Resistance 3: $137.85
- Resistance 2: $131.58
- Resistance 1: $126.25
- Pivot Point: $119.98
- Support 1: $114.65
- Support 2: $108.38
- Support 3: $103.05
So should the stock of American Express hit $136.25 it might struggle to get past that level and if it does its next resistance levels will be at $131.58. However should the stock of American Express (AXP) decline below the pivot value of $119.98 it will most likely find support at $114.65 and if it falls below that the next support line level is at $108.38 and should it fall below that support for American Express (AXP) stock will be found at $103.05
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