The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. American Express Co. shares valued at $666,213 were sold by Pickett Denise on May 22 ’24. At $240.68 per share, Pickett Denise sold 2,768 shares. The insider’s holdings dropped to 12,560 shares worth approximately $3.16 million following the completion of this transaction.
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Also, Joabar Raymond sold 2,230 shares, netting a total of over 541,622 in proceeds. Following the sale of shares at $242.88 each, the insider now holds 12,707 shares.
Before that, Joabar Raymond had sold 425 shares from its account. In a trade valued at $103,148, the Grp. Pres., GMNS traded American Express Co. shares for $242.70 each. Upon closing the transaction, the insider’s holdings decreased to 425 shares, worth approximately $0.6 million.
As published in a research note from BofA Securities on August 21, 2024, American Express Co. [AXP] has been rated down from a Buy to a Neutral and the price target has been revised to $263. Analysts at Monness Crespi & Hardt resumed the stock at ‘”a Buy”‘ outlook in a report released in late July. As of July 16, 2024, Compass Point has initiated its “Neutral” rating for AXP. Earlier on July 15, 2024, Monness Crespi & Hardt resumed its rating. Their recommendation was “a Buy” for AXP stock.
Analyzing AXP Stock Performance
During the last five days, there has been a drop of approximately -2.04%. Over the course of the year, American Express Co. shares have jumped approximately 34.43%. Shares of the company reached a 52-week high of $261.75 on 08/30/24 and a 52-week low of $177.81 on 01/18/24. A 50-day SMA is recorded $243.63, while a 200-day SMA reached $218.89. Nevertheless, trading volume fell to 2.7 million shares from 3.03 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 249.08, which, if violated, would cause prices to drop to 246.33. In the upper region, resistance lies at 253.88. The next price resistance is at 255.93. RSI (Relative Strength Index) is 54.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.70, which suggests the price will decrease in the coming days. Percent R is at 53.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
