American Express Company(AXP) is in an downtrend but momentum is showing some life

(29-Feb-2008) (29-Feb-2008) American Express Company(AXP) closed at 44.42, down -1.65 or -3.58 % today. Based on our analysis, American Express Company(AXP) is in an downtrend but momentum is showing some life.

The closing price of American Express Company(AXP) is below its 50 day moving average of 47.38 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that American Express Company(AXP) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 24-Jan-2008, about 26 trading days ago.