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American Express Technicals Show Its Stock Is Recovering

The technical charts for American Express (AXP - Get Report) have improved since the stock suffered a flash crash on "Black Monday," Aug. 24. The daily chart shows that a "death cross," confirmed on Feb. 4, correctly tracked the stock lower until its flash crash. (A "death cross" occurs when a stock's 50-day simple moving average falls below its 200-day simple moving average, a technical warning that additional stock market downside lies ahead.)

AmEx stock is now above its 50-day simple moving average. The weekly chart ended last week positive. This set-up favors a positive reaction to earnings when the company reports after the closing bell on Wednesday.

The credit card giant is a component of the Dow Jones Industrial Average (INDU) . The stock is down 17.2% year to date...


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