Current trend

Shares of American Express Co., one of the leading American multinational companies providing payment transaction services, are adjusting at 217.00.

Yesterday, it became known about cooperation with the Hilton Hotels & Resorts hotel chain, within the framework of which a special Hilton Honors American Express business card was issued, which includes a reward structure for receiving bonus points anywhere in the world.

On April 19, American Express Co. will publish its financial report for Q1 2024: analysts' baseline forecast assumes revenue of 15.79 billion dollars, slightly below 15.8 billion dollars for the previous period, and expected earnings per share (EPS) is 2.95 dollars, up from 2.62 dollars earlier.

Barclays Bank experts downgraded the emitter's rating from "Overweight" to "Equal-Weight", while adjusting the target price from 220.0 dollars to 221.0 dollars. Also, according to analysts, EPS growth forecasts are overstated.

Support and resistance

On the D1 chart, the emitter's quotes are declining and trying to consolidate below the support line of the ascending channel with the borders of 230.00–218.00.

The sell signal from the technical indicators has almost been received: the range of fluctuations of the EMAs on the Alligator indicator is directed downwards, and the fast EMAs are very close to the signal line, while the AO histogram, trading in the negative zone, is forming descending bars.

Support levels: 214.00, 204.00.

Resistance levels: 221.00, 230.00.

Trading tips

In the event of a reversal and continued decline of the asset and price consolidation below the support level of 214.00, short positions with the target of 204.00 and stop-loss of 220.00 can be opened. Implementation time: 7 days and more.

If the asset continues to grow and the price consolidates above the resistance level of 221.00, one may open long positions with the target of 230.00 and stop-loss of 217.00.