American Express Company is specialized in making and marketing of credit cards.

For the fourth quarter, the net income rose by 12% to $1.2 billion, $1.01 per share whereas the consensus expected less than one dollar. The results were penalized by provisions for credit losses of $409 million against $240 million a year earlier. This increase regarding provisions for credit loss show a certain fragility of the business.

The extraction of the USD 48 resistance area which converged the three moving averages gave a powerful impulse to the share. For sure, the general bullish trend of U.S stock markets puts on a act in the stock’s performance. Since this movement and USD 59 resistance was hit, the determination to buy lessened.

So it would appear that stock falls in the next sessions and it will be preferable to take a short position right now to target the USD 55.4 short-term support. Moreover, a stop-loss will be fixed at USD 59.5.