Dow Jones Stocks That Are In Trouble: American Express (AXP)
American Express Company (NYSE:AXP) shares look ready to break down out of a three-month consolidation range and they are threatening critical support near its 50-day moving average. A breakdown here would set up a run all the way down to AXP’s 200-day moving average, which would be worth an 8%+ decline from here.
American Express will next report results on Oct. 18 after the market closes. Analysts are looking for earnings of $1.47 share on revenues of $8.3 billion. When AXP last reported on July 19, earnings of $1.47 per share beat estimates by 3 cents on a 0.9% rise in revenues. In a post-earnings note, analysts at RBC Capital warned of fundamental headwinds, including high competition and discount revenue pressure.