American Express Company (AXP) stock price recorded a pullback in its latest intraday trading, influenced by the stabilization of the key resistance level at $387.50, as the stock attempts to build positive momentum that could help it break above this resistance later on. This comes amid continued dynamic support from trading above its SMA50, which reinforces the stability and dominance of the main short-term upward trend, with price action moving along a supportive trend line.

 

Therefore we expect the stock price to rise in upcoming trading, but only if it first succeeds in breaking above the $387.50 resistance level, to target the next resistance at $410.00.

 

Today’s price forecast: Bullish