AXP Drops to $308.90 as EMAs Flash Warning
American Express Co (AXP) retreated 7.88%, ending the session at $308.90 on March 2.
The technical picture is bearish:
Moving Averages
Price sits below both the 9-day ($330.28) and 21-day ($341.20) EMAs, suggesting short-term weakness.
Momentum
RSI at 30.8 is showing no strong directional bias. MACD is bearish (-10.38 vs signal -7.67).
Volatility
Price has pierced the lower Bollinger Band ($315.16), which often precedes a bounce.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $315.16.
Technical levels: $315.16 support, $372.03 resistance.
