Taking a look at what insiders are doing to gauge the American Express Co. (AXP)’s direction

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. American Express Co. shares valued at $17,979,772 were sold by Seeger Laureen on Feb 12. At $212.98 per share, Seeger Laureen sold 84,420 shares. The insider’s holdings dropped to 57,512 shares worth approximately $12.13 million following the completion of this transaction.

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Also, Squeri Stephen J sold 69,356 shares, netting a total of over 14,774,445 in proceeds. Following the sale of shares at $213.02 each, the insider now holds 122,158 shares.

Before that, Marrs Anna had sold 36,279 shares from its account. In a trade valued at $7,727,064, the Group Pres., GCS and CFR traded American Express Co. shares for $212.99 each. Upon closing the transaction, the insider’s holdings decreased to 36,279 shares, worth approximately $4.2 million.

As published in a research note from Morgan Stanley on February 08, 2024, American Express Co. [AXP] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $222 from $212.

Analyzing AXP Stock Performance

During the last five days, there has been a surge of approximately 0.87%. Over the course of the year, American Express Co. shares have jumped approximately 12.58%. Shares of the company reached a 52-week high of $214.25 on 02/09/24 and a 52-week low of $177.81 on 01/18/24. A 50-day SMA is recorded $188.63, while a 200-day SMA reached $167.13. Nevertheless, trading volume fell to 2.76 million shares from 3.38 million shares the previous day.

Support And Resistance Levels for American Express Co. (AXP)

According to the 24-hour chart, there is a support level at 209.39, which, if violated, would cause prices to drop to 207.87. In the upper region, resistance lies at 211.85. The next price resistance is at 212.81. RSI (Relative Strength Index) is 73.09 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.23, which suggests the price will increase in the coming days. Percent R is at 15.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is American Express Co. subject to short interest?

Stocks of American Express Co. saw a sharp rise in short interest on Jan 31, 2024 jumping by 1.46 million shares to 8.07 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 6.61 million shares. A jump of 18.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.22 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.22.

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