Billion

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>American Express kept its annual profit forecast unchanged despite a record spending on credit cards by consumers</a> </li> 
 <li> <span>2</span> <a>AXP stock price is currently observing a weak momentum on the daily chart. It has seen a gain of 1.12% in the intraday session.</a> </li> 
</ul> 
<p>American Express commonly referred as AMEX is a global financial service corporation. The company has shaped the financial landscape of the USA. American Express was founded in 1850 Buffalo New York and since then it has seen exponential growth. American express has now expanded its reach and is operating in more than 100 countries.</p> 
<p>Recently as per a report by Reuters American Express kept its annual forecast same despite users spending more through cards. Millennials and Gen Z were a fast growing market for the AMEX. Meanwhile, rising borrowing cost have led AMEX to raise its provisions for credit losses. American Express may see a growth in the upcoming in terms of revenue and profit as per the analysts.</p> 
<p>American Express stock (AXP) has a market cap of $121.8 Billion with a strong EPS. AXP stock price has seen a drop of over 8% in the past seven days. The 52 week range of the AXP is $130 to $182. If the stock price crosses the threshold of $180 then a rally to $200 can be seen in future.</p> 
<h2 class="wp-block-heading" id="strong-will-axp-stock-price-observe-a-new-high-soon-strong"><strong>Will AXP Stock Price Observe A New High Soon?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/mtaIMnoNiiF00CIojk2fEFqie1URxRAs100hUMwgGDm2v2ZSrEW9Laj-qCUDcOL6ABuwerNbBYg680ZdYlGSg6qniP3Emzm2ST9eTnr3o7Xfoq3CXV8aPCt3GC6eyKmucQIPCiaNZ7LfSMhj" alt="Is American Express Stock(AXP) Price Heading Towards The $200 Mark?"> 
 </figure> 
</div> 
<p>American Express<a href="https://www.thecoinrepublic.com/2023/07/27/barclays-plc-bcs-stock-escaped-the-range-will-it-touch-10/" target="_blank" rel="noopener noreferrer nofollow"> stock </a>has been observing a consolidated trend in the weekly technical chart. Coming to the daily chart, the asset price is trading near the value of $165 with a small gain in the intraday session. The upside trend of AXE stock can see a halt near the value of $180. Meanwhile, the downside trend of the asset price can observe a bounceback from $158. AXP stock is currently in a weak bearish momentum in the daily chart. The asset price is currently trading below the 100 and above 200 Daily Moving Averages. If the asset price jumps above the 100 DMA then a strong rally to a new high can be seen in the future.</p> 
<p>The RSI of AXP stock is near 40.97 suggesting its presence in the neutral zone. The overall sentiment of the RSI is neutral.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>American Express stock price is currently in a consolidation in the daily chart. Meanwhile, the company has not increased their profit forecast despite a huge spending by their consumers. Various analysts are expecting a strong growth in the company for the near future.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<p>Major Support:$158</p> 
<p>Major Resistance:$180</p> 
<h5 class="wp-block-heading"><strong>Disclaimer:</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Is American Express Stock (AXP) Price Heading Towards The $200 Mark?

Table of Contents

Thecoinrepublic.com

Other articles published on Jul 31, 2023

L’Ultra Arena, la plateforme d’Esports révolutionnaire débarque le 8 août !

Ethereum’s Recovery Rally Fades As Sellers Prevent A Surge Above $1900! Here’s ETH Price’s Next Move

Shiba Inu’s Bone, Minting Remaining Supply and Contract Renouncement Explained

ALGO’s Price Holds Steady at Key Support, Indicating Potential Re-Accumulation Phase

DeFi World Shaken by $47M Heist – Curve Finance Attacked!

Monthly Wrap-Up June 2023: Polkadot Decoded, New Add-Ons & More

Join our free newsletter for daily crypto updates!