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AMERICAN EXPRESS STOCKS FALLS DESPITE THE RATING UPGRADES - Capital Street FX
AMERICAN EXPRESS STOCKS FALLS DESPITE THE RATING UPGRADES
In the pre-market trading session, on Monday the American express’s stock was trading lower by 7.13%.
Baird analyst David George upgraded American express to outperform from neutral. The analyst also said that the break lower in the 10-year U.S Treasury was extreme and that it will retrace higher when volatility normalize. George maintained his 124 price target on American express shares
The company reported its fourth-quarter results on January 24, 2020. The company reported better-than-expected profit and revenue. The profits were driven in large part by a well-balanced mix in fee. Earnings came in at 2.03 per shares while revenue was 11.36 billion.
On the technical front, the MACD suggest a bearish momentum the stock is trading below Bollinger bands. The RSI and Stochastic suggests that market can move in downward direction.
Overall bias is negative and short trade can be execute on following levels.
TRADE SUGGESTION- LIMIT SELL AT 100 TAKE PROFIT AT 95 STOP LOSS AT 102.50
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