American Express Shares Close Below Three Key EMAs at $308.17

American Express shares closed below three key exponential moving averages on Oct. 9, signaling a weaker daily trend even as hourly indicators pointed to stronger short-term momentum.

Trading ranged from $302.26 to $308.79 before the shares finished at $308.17 at 4 p.m. ET (8 p.m. UTC). It opened at $303.82.

The close was below the 20-session EMA at $309.90, the 50-session EMA at $319.53 and the 200-session EMA at $326.66. The daily RSI14 was 42.59, below the neutral 50 level.

Daily MACD was negative at -5.47 but remained above its -6.61 signal line, producing a positive histogram of 1.14. The daily Bollinger mid-band was $308.62, with an upper band of $322.09 and a lower band of $295.15. Daily ATR14 was $5.69.

The next-session daily pivot was $306.41, with first resistance at $310.55 and first support at $304.02.

Shorter-term readings were firmer. Hourly RSI14 was 61.79, and the hourly MACD line stood at 1.17, above its 0.77 signal line. The stock remained below the 200-hour EMA at $314.04.

The market indicators came as the Office of the Comptroller of the Currency announced a $350 million civil money penalty against American Express National Bank on Oct. 8. The bank failed to establish and maintain a Bank Secrecy Act and anti-money-laundering compliance program reasonably designed to assure and monitor compliance with the law.

American Express also announced the launch of its next-generation Amex Corporate platform on Sept. 30. The platform combines Corporate Cashback Cards, expense-management software, a mobile app and artificial-intelligence capabilities.

“ Our new Amex Corporate features are designed to help businesses know where money is going and who's spending it, save time and simplify day-to-day operations, all backed by the trust and service of American Express,” Raymond Joabar, Group President, Global Commercial Services at American Express, said in the announcement.

TokenPost previously covered the American Express National Bank $350 million OCC penalty.