- American Express Company stock has given a triangle breakout.
- AXP stock’s profit margin percentage has shown an increase.
- The price of the AXP stock is expected to rise by 11.09% in the upcoming year as per the analysts’ rating.
American Express Company is involved in offering charge and credit card products, along with travel-related services. The company operates through several segments, including U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Others.
Technical Analysis of AXP Stock
The current path of AXP stock suggests an upward trajectory, marked by the formation of higher highs. The gross profit margin percentage of AXP is $10.7 Billion, indicating a YoY increase of 6.9%.
The projected target price for AXP stock in the upcoming year is $171.50, signaling a 11.09% increase from the present value. This positive projection signifies an optimistic anticipation of favorable returns. Furthermore, the return on invested capital for AXP is 1.2% for Q3 2023, displaying a YoY rise of nearly 9.3%, reflecting favorable returns for the company.
The annual profit margin percentage for AXP has notably improved, rising from 10.14% in Q4 2022 to 14.1% in Q3 2023.
AXP stock has recently experienced a breakout from a triangle pattern, suggesting an upward trend. Following a support level of $141, the price has shown a significant reversal, marking an approximately 9% increase in the last two weeks. As the price approaches a resistance level, a potential breakout could lead to further upward momentum.
American Express Company (AXP) Stock Price Analysis
The MACD line for the AXP stock is trading above the signal line, followed by the formation of the green histogram. This placement is considered a positive sign. Hence, the price is expected to rise in the upcoming days.
The RSI line for AXP stock stands at 60, closely tracking the SMA line at 47. The RSI line exhibits an advantage over the SMA line, having undergone a positive crossover. Consequently, there is an anticipation of a price increase in the stock in the upcoming days.
Conclusion
According to the analysis, AXP stock is on an upward trajectory. The price has reversed after hitting a support level and is currently forming a triangle pattern. Positive indicators and an overall improvement in earnings indicate the potential for a rise in the stock price in the upcoming days.
Technical Levels:
- Support Levels– $141 and $137
- Resistance Levels- $155 and $163
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
