Current trend

Shares of American Express Co., one of the leading American multinational companies providing payment transaction services, are adjusting at 260.00.

Yesterday, statistics on demand for lending services over the past three months were published, which supported positive forecasts for revenue growth in the third quarter: for example, the volume of loans issued to cardholders increased in August to 87.3 billion dollars from 85.9 billion dollars in July and 85.0 billion dollars in June, and the volume of loans for small businesses amounted to 30.1 billion dollars in August, above 29.2 billion dollars in July and 28.6 billion dollars in June. Thus, the total amount of funds disbursed amounted to 117.4 billion dollars in August, after 115.1 billion dollars in July and 113.6 billion dollars in June.

The financial report for the third quarter of American Express Co. will be published on October 18: analysts expect revenue growth from 16.30 billion dollars to 16.68 billion dollars, up from 15.38 billion dollars over the same period a year earlier. Earnings per share (EPS) could be 3.27 dollars, down from 3.49 dollars in the previous quarter and 3.3 dollars a year earlier.

The last dividend payment took place on August 9, when 0.7 dollars per share was sent to investors, which is equivalent to a yield of 1.19%.

Support and resistance

On the D1 chart, quotes are rising, moving away from the support line of the ascending channel with the boundaries of 265.00–235.00.

Technical indicators have long issued a buy signal: the range of EMAs fluctuations on the Alligator indicator is directed upwards, and fast EMAs are far from the signal line, while the AO histogram, trading in a positive zone, forms new ascending bars.

Support levels: 255.00, 230.00.

Resistance levels: 265.00, 283.00.

Trading tips

If the asset continues to grow and the price consolidates above the resistance level of 265.00, one may open long positions with a target of 283.00 and a stop-loss of 255.00. Implementation period: 7 days and more.

If the asset continues to decline and the price consolidates below the support level of 255.00, short positions with a target of 230.00 and a stop-loss of 265.00 will be relevant.