Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AXP stock showed a negative outlook hovering near the support of $165.</a> </li> 
 <li> <span>2</span> <a>AXP stock showed rejection from the supply range of $180.</a> </li> 
</ul> 
<p>American Express Company (AXP stock) price failed to crack the hurdle of $180 and faced rejection resulting in slippage below the 20-day EMA. However, the price is close to 100-day EMA, and buyers are expected to rescue their gains.</p> 
<p>However, the correction was initiated due to the Q2 earnings results per the estimates. However, instead of a positive reaction, investors took it negatively, and selling pressure was witnessed in the last sessions and the price returned toward the crucial support of $165. In the past sessions, AXP stock has filled the gap and revamped from the demand zone of $145, showing trend reversal indications. Furthermore, the price action still shows neutral reactions and suggests a bounce if it sustains near the 100-day EMA.</p> 
<p>American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. Since 2018, it has operated in three segments: global consumer services, global commercial services, and global merchant and network services. In addition to payment products, the company’s commercial business offers expense management tools, consulting services, and business loans.</p> 
<p>At press time, AXP stock price is trading at $165.41 with an intraday drop of 0.60% showing neutrality on the charts. Moreover, the trading volume remained at 2.256 Million, and the market cap is $121.818 Billion. Analysts maintained a buy and outperform rating with a target price of $182.09.</p> 
<h2 class="wp-block-heading" id="strong-axp-stock-price-action-on-daily-charts-strong"><strong>AXP Stock Price Action On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/xftSFwh3bXJCyYInSaeEZ0SAucXvwNGBFcST14fI5tJl3POXOufqqJ6V4vEAUpEv3Xx8C2Cw2KFd8a1jhq8sLKcvP4Ys6hLY-KE0p-TrsTxj0aMPhuui8TVFiLjoRa9e01Ok4v4FKco-SYiba-bplg" alt="Will AXP Stock (NYSE: AXP) Price Rebound From 100-day EMA?"> 
  <figcaption class="wp-element-caption">
    Source: AXP Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, AXP <a href="https://www.thecoinrepublic.com/2023/08/05/open-stock-lost-over-26-intraday-despite-positive-earnings/" target="_blank" rel="noopener noreferrer nofollow">stock price </a>shows volatility and fails to surpass the hurdle of $180, resulting in profit booking and slippages below the 20-day EMA. Moreover, the price action favors the sellers and persists in making short positions.</p> 
<p>As per the Fib levels, AXP stock failed to smash the 61.8% and returned toward the 50% neutral zone showing buyers weak momentum. Moreover, the price is trading near the mid bollinger band, indicating neutrality.</p> 
<h2 class="wp-block-heading" id="strong-short-term-charts-indicating-a-bounce-strong"><strong>Short Term Charts Indicating A Bounce</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized"> 
  <img decoding="async" loading="lazy" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-1024x481.png" alt="Will AXP Stock (NYSE: AXP) Price Rebound From 100-day EMA?" class="wp-image-157066" width="1124" height="528" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28-1140x536.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-28.png 1600w" sizes="(max-width: 1124px) 100vw, 1124px"> 
  <figcaption class="wp-element-caption">
    Source: AXP Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, AXP share price shows a crossover and a bounce in the following sessions. Moreover, the buyers are accumulating amid the adverse reaction of Q2 results.</p> 
<p>The RSI curve stayed in the oversold region but formed a positive divergence indicating a bounce in the upcoming sessions.</p> 
<p>The MACD indicator showed a bullish crossover, and green bars started to form on the histogram showing positive reflections on the charts.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>American Express Company (AXP stock) price is trading near the strong support of $165 at the 100-day EMA and suggesting a bounce in the following sessions. However, surpassing the 20-day EMA might be a challenge for the bulls, as there is strong resistance and sellers’ grip.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical Levels:</strong></h5> 
<p>Support Levels: $150</p> 
<p>Resistance Levels:$170 and $175</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 do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Will AXP Stock (NYSE: AXP) Price Rebound From 100-day EMA?

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