American Express Company (NYSE: AXP) shares were down on Tuesday February 14 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile U.S. stocks opened slightly lower on Tuesday. The main three benchmarks retreated after touching the latest in a series of record highs on Monday, with the S&P 500 index SPX, -0.09% down two points, or 0.1%, to 2,326.
The Dow Jones Industrial Average DJIA, -0.02% fell 34 points, or 0.2%, to 20,381. The Nasdaq Composite Index COMP, -0.13% shed eight points, or 0.1%, to 5,756.
American Express Company (NYSE: AXP) had its price target raised by equities researchers at DA Davidson from $0.00 to $84.00. With a rating of on the stock, the company has a 52-week high of $79.18. A number of other analysts have issued reports on the company recently, and the company has secured a consensus one-year price target of $80.72, higher than the opening price of $79.00, a difference of 10.24 percent.
Shares of American Express Company (NYSE: AXP) opened at $79.00 yesterday trading between $78.67 and $79.02, and last traded at $78.82, which represents a dip of $0.09 over the previous closing price.
American Express Company (NYSE: AXP) now has a market cap of 71.25B.
American Express Company (NYSE: AXP) Average Daily Trading Volume
301,719 shares crossed the trading desk yesterday, 0 percent below the average, out of a total float 751,883,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
American Express Company (NYSE: AXP) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for American Express Company (NYSE: AXP) have ranged from $52.73 – 79.18, and the stock now has a 50-day MA of $76.59 and 200-day MA of $69.41. Today’s last price is 0.45%% lower than the 52 week high of $79.18.
Earnings growth is a crucial factor to look at when buying stocks and investors watch for companies that have increased their earnings at least 25% or more for a 3 year period.
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