Keep an eye on oversold shares of American Express (AXP).

After finding strong support at $254, AXP is starting to pivot higher again. It’s also starting to pivot from over-extensions on RSI, MACD and Williams’ %R.

From its last traded price of $270.51, we’d like to see an initial retest of $290.

Helping, on March 7, director Michael Angelakis bought a total of $998,593 worth of American Express shares at a price of $269.89 per share. Plus, the company just raised its dividend by 17% to 12 cents per share. It’s payable on May 9 to shareholders of record as of April 4.

251%-Culcan (in a mere 2 days), 369%-Aetna (just 13 days) click here to get results like these for just $1.

Baird analysts also upgraded the AXP sto to a neutral rating with a price target of $265. The firm noted that the sell-off in teh broader market makes it challenging to remain pessimistic about American Express’ “high-quality franchise,” as quoted by TheFly.com.

Also, according to Chairman and CEO Stephen Squeri, “Our full-year 2024 results set new records across key metrics. We delivered record revenues of $66 billion for the year, up 9 percent or 10 percent on an FX-adjusted basis1; and we had record annual net income of over $10 billion, or $14.01 per share, up 25 percent year-over-year including the gain from Accertify2. Full-year revenue growth was consistent with the growth aspirations we have for the company over the long-term, while EPS growth was higher.”

Sincerely,

Ian Cooper