Current trend

Shares of American Express Co., one of the leading American multinational companies providing payment transaction services, are adjusting at 243.00.

Yesterday, management announced its intention to open a new Centurion lounge with an area of more than 16.0 thousand square feet at Salt Lake City International Airport, which will be available to all cardholders of the company. Details of the project will be available as early as September 11 during the Barclays Financial Services conference, which will be attended by Christopher Le Caillec, the company's chief financial officer, who, in addition to infrastructure investments, will discuss the results of the company's recent financial report.

The emitter's financial results for the second quarter showed an increase in revenue to 16.3 billion dollars from 15.05 billion dollars last year. Earnings per share (EPS) amounted to 3.49 dollars, exceeding both the 3.23 dollars forecast by analysts and 2.89 dollars over the same period a year earlier.

Support and resistance

On the D1 chart, the asset is rising and trying to move further away from the support line of the "expanding formation" pattern with the boundaries of 266.00–227.00.

A global buy signal from technical indicators has not yet been received: the range of EMAs fluctuations on the Alligator indicator is directed upwards, and fast EMAs are very close to the signal line, but have not yet crossed it, while AO histogram, trading in the negative zone, forms new descending bars.

Support levels: 239.00, 222.00.

Resistance levels: 248.00, 266.00.

Trading tips

If the asset continues to grow and the price consolidates above the resistance level of 248.00, one may open long positions with the target of 266.00 and stop-loss of 242.00. Implementation period: 7 days and more.

If the asset continues to decline and the price consolidates below the support level of 239.00, short positions with the target of 222.00 and stop-loss of 246.00 will be relevant.