American Express (AXP) Offering Possible 27.23% Return Over the Next 3 Calendar Days

American Express's most recent trend suggests a bullish bias. One trading opportunity on American Express is a Bull Put Spread using a strike $99.50 short put and a strike $94.50 long put offers a potential 27.23% return on risk over the next 3 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $99.50 by expiration. The full premium credit of $1.07 would be kept by the premium seller. The risk of $3.93 would be incurred if the stock dropped below the $94.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for American Express is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for American Express is bullish.

The RSI indicator is at 61.27 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for American Express

'Halftime Report' Traders Share Their Thoughts On Sherwin-Williams, American Express And More
Sun, 16 Aug 2020 14:17:40 +0000
Stephanie Link said on CNBC's "Fast Money Halftime Report," that she prefers Stanley Black & Decker, Inc. (NYSE: SWK) over Snap-on Incorporated (NYSE: SNA).She owns Stanley Black & Decker and she thinks that it is poised to do well next year. She said that it is a little more expensive than Snap-on, but the risk-reward is more attractive. Link likes Stanley Black & Decker because of its billion-dollar cost-saving program that could lead to 36% growth in earnings next year.Jim Lebenthal thinks that Sherwin-Williams Co (NYSE: SHW) is still a buy. He believes that it should move higher to catch up with Home Depot Inc (NYSE: HD).Pete Najarian said that American Express Company (NYSE: AXP) is the least expensive among the big names, but maybe for the right reasons. It has been lagging, but Najarian is hoping that it could catch up. He owns the stock and he is selling calls against it.See more from Benzinga * Pete Najarian Sees Unusual Options Activity In Gilead * 'Fast Money Halftime Report' Picks From August 14 * 'Fast Money' Picks For August 17: Newmont, Walmart And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Fri, 14 Aug 2020 21:58:40 +0000
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American Express: new yuan card settlement network promotes global use of China's currency
Fri, 14 Aug 2020 09:30:00 +0000
American Express' entry into China's US$27 trillion payment market may help increase the use of the yuan across borders amid worsening US-China tensions, according to analysts.The joint venture between American Express and LianLian DigiTech, called Express (Hangzhou) Technology Services, obtained approval in June from China's central bank for a network clearing license, making American Express the first foreign company allowed to settle yuan-denominated credit card transactions both abroad and on the mainland.The clearing of card transactions refers to the settlement of transactions and the transfer of funds from one bank to another, and by a bank to a merchant that accepts the card when someone uses it to make purchases.US-China trade war: Beijing will honour phase one deal by opening financial sector widerBeijing's decision to let the American company participate in its clearing network will help channel more yuan funds abroad, boosting the yuan's circulation and its role in global finance, analysts said. The move has the added benefit of reducing China's reliance on the US dollar payments system amid worries that the United States could try to impose financial sanctions on the country because of deteriorating bilateral relations.The People's Bank of China (PBOC) has also approved an application by Mastercard's China joint venture to conduct bank card clearing operations in the country, but the US credit card company has not yet received a yuan network clearing license. Rival card giant Visa submitted its application in early 2018 and is still awaiting approval."I'm already used to making purchases through mobile payments. Even when you go to Thailand for fun, it has been easy to pay with Chinese apps at the convenience and drug stores there," said Cat Xiong, 32, who works in the social studies education sector in southern China.American Express said the bank card clearing network, being built by the joint venture, will process both online and offline payment transactions, and the company will cooperate with leading Chinese mobile wallet service providers, according to a statement in June.Its advantage lies mainly in its expansive cross-border international network that can accommodate both Chinese travelling abroad and foreigners visiting China, analysts said."American Express is trying hard not to miss the second boat in China. They already did with the first wave as China blocked foreign credit card providers and developed Union Pay, followed by Alipay and WeChat," said Alicia Garcia Herrero, chief economist for Asia-Pacific at French investment bank Natixis.Morgan Stanley chief China economist Robin Xing Ziqiang said that after the slow progress in yuan internationalisation in recent years, it has again become a priority for Chinese policymakers to increase use of the yuan in light of the emerging post-coronavirus "multipolar world" resulting from geopolitical tensions.The ratio of China's foreign-related transactions conducted in yuan, excluding transactions via the Stock Connect and Bond Connect market-access initiatives, has surpassed its peak recorded in 2015. And the yuan's share in international foreign exchange reserves passed 2 per cent in the first quarter, doubling from 2015, largely supported by the Russian government's purchases of Chinese government bonds, Xing said.Herrero cautioned that the growing sophistication of Chinese financial institutions did not necessarily mean that the yuan had reached a tipping point to become a fully fledged reserve currency. The hurdle to yuan internationalisation comes from getting sovereign wealth managers, merchants and consumers to accept the currency without China lowering its restrictions on capital flows while making the yuan freely convertible.Ahead of the six-month review of the phase one trade deal by senior US and Chinese trade officials, PBOC governor Yi Gang said last weekend that China would fulfil its financial opening-up pledges agreed to in the deal, such as by allowing Wall Street's trading houses to have wholly-owned brokerage and fund-management operations in China.Some of China's much-delayed financial opening-up measures were promised two decades ago as conditions for China's entry into the World Trade Organisation in 2001."It is certainly a breakthrough for a foreign company to gain entry into the previously untouchable Chinese payment market," said Allison Malmsten, a market analyst at Daxue Consulting. "It goes against the anti-globalisation direction of the Trump administration and represents the will of companies to collaborate across borders – creating an opportunity for finances to flow between the two countries."This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

Cisco, Exxon Mobil share losses lead Dow's nearly 75-point drop
Thu, 13 Aug 2020 19:23:00 +0000
DOW UPDATE Shares of Cisco and Exxon Mobil are trading lower Thursday afternoon, dragging the Dow Jones Industrial Average into negative territory. Shares of Cisco (CSCO) and Exxon Mobil (XOM) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 72 points (0.

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