American Express shares technical analysis: Testing $301.12 support

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American Express drops 4.72% today

Highlights

American Express exceeded Q2 2026 earnings and revenue forecasts with EPS of $4.53 and revenue of $19.64 billion.
The company increased its 2026 revenue growth outlook, announced a global Accor partnership, and disclosed the planned acquisition of TheFork.
Shares face sustained downside as technical indicators point to a bearish trend, with price expected to range between $301.12 and $333.28 in the near term.

Earnings beat and acquisition ambitions as shares face selling pressure

American Express reported second-quarter 2026 earnings of $4.53 per share and revenue of $19.64 billion, surpassing expectations and reflecting improved performance, according to Tradingview. The company also raised its full-year revenue growth outlook for 2026, maintaining guidance on earnings, which may support the long-term demand outlook. Additional initiatives included a global partnership with Accor’s ALL loyalty program to expand cardholder benefits, as noted by Macaubusiness, and a proposed acquisition of TheFork restaurant booking platform, reported by Finance Yahoo, positioning the company to broaden its international merchant network — though price action has remained under broader selling pressure.

Persistent downside momentum as major technical levels fail to hold

AXP is trading below the MA-20 at $341, MA-50 at $350.06, and MA-200 at $339.16 on the hourly chart. The Ichimoku Kijun is positioned at $335.93, marking immediate resistance. RSI is deep in oversold territory at 21.7, while CCI and Bull/Bear Power are also oversold; Stoch RSI is neutral. MACD and ADX both indicate persistent negative momentum, with the Awesome Oscillator supporting this downside bias and sellers maintaining control during intraday sessions.

Elevated downside risk as volatility band signals limited rebound

Over the next 2 to 3 trading days, AXP is likely to fluctuate within a volatility band between $301.12 and $333.28. The probability of a short-term rebound is low, with an elevated risk of continued declines if selling pressure intensifies. Should the price break above $335.93 resistance, a limited short-covering move could emerge. Conversely, a sustained push below $301.12 would amplify downside momentum and open the way for further weakness.

Viktoras Karapetjanc, leading analyst at Traders Union, sees the earnings and revenue beat as a clear sign of American Express's improving fundamentals. He notes that new partnerships and expansion moves strengthen long-term positioning, despite today’s price weakness and negative momentum. Support may emerge if broader sentiment stabilizes. "If AXP can reclaim resistance near $335.93, I expect renewed buying interest to follow."

Earlier, analysts noted that American Express was expected to stabilize amid mixed technical signals and resolved regulatory concerns. The current sustained decline below major moving averages and deeply oversold momentum readings now signal increased vulnerability to downside volatility, making the $301.12 level a critical support threshold for near-term price action.

Source of Data: AXP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.