American Express Company(AXP) is in an downtrend

(23-May-2008) (23-May-2008) American Express Company(AXP) closed at 45.25, down -1.1 or -2.37 % today. Based on our analysis, American Express Company(AXP) is in an downtrend.

The closing price of American Express Company(AXP) is below its 50 day moving average of 46.72 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that American Express Company(AXP) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 14-May-2008, about 14 trading days ago.