American Express Stock: Buy, Sell or Avoid?

On Monday and Tuesday, we saw a large haircut in price for credit card company American Express (NYSE: AXP).
The sharp decline happened after credit card issuer Synchrony Financial (NYSE: SYF) announced that it’s expecting higher write-offs of bad debt. That news sent shares of American Express, MasterCard (NYSE: MA) and Visa (NYSE: V) sharply lower.
There is increasing concern that banks and credit card companies are issuing more debt to less desirable customers. These debts include auto loans, which have grown considerably in recent years.
Big news events can drive short-term price movements – which in turn can provide great trading opportunities.
Is American Express one of them? Should we look to buy this sell-off, or could lower prices potentially be in the cards going forward? Find out in this just-released video.
https://youtu.be/4gV-GsWPMaE
Click here now to watch this 11-minute trading video.
Watch and you’ll get my “top down” chart analysis on American Express stock. I explain what’s happening with the stock right now, and how this latest move could create a profitable trading situation.
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Next week, I’ll be hosting a live webinar for Wyatt Investment Research readers.
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