Will AMP Stock Surpass $350?

Ameriprise Financial (AMP stock) price is gaining traction and has persisted in gaining in the past sessions. Moreover, AMP stock is trading above neutrality and in bull territory. Furthermore, bulls are willing to cross the primary hurdle of $350 and will exceed the neckline soon.The chart structure is bullish and suggests follow-on buying action will continue.A breakout can be anticipated.

AMP stock price is near the cluster of $350 and trading in the overbought zone. The bulls are trying to register a breakout. Moreover, the price action favors the bulls. AMP stock is trading above the significant moving averages and is on the verge of the upper Bollinger band, showing a positive outlook on the charts.

At press time, AMP stock price was $345.05, with an intraday gain of 1.35%, showing bullishness on the charts. Moreover, the trading volume increased by 1.90% to 489.898 Million, with the market cap at $35.411 Billion. Moreover, analysts maintained a buy rating with a yearly target price of $375.73, suggesting a growth outlook for the upcoming sessions.

Ameriprise Financial, Inc. operates as a holding company. The firm provides financial planning, asset management, and insurance services to individuals, businesses, and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other. 

The Advice & Wealth Management segment provides financial planning and advice and full-service brokerage and banking services, primarily to retail clients through the company’s financial advisors. The Asset Management segment provides investment advice and investment products to retail and institutional clients. 

AMP Stock (NYSE: AMP) Signals A Breakout On Daily Charts

On the daily charts, AMP share price is in an uptrend, stretching the gains over the past few sessions. Moreover, the price is close to the 61.8% Fib level and shows a double bottom pattern. The price broke the neckline and is waiting to surpass the cluster and round mark of $350. 

The RSI curve stayed in the overbought zone, showing a bullish 

divergence. A positive crossover was noted on the charts. Moreover, technicals suggest follow-up buying action could soon arise, and stock could reach $400 soon.

The MACD shows a bullish crossover, forming green bars on the histogram.

Summary   

AMP stock price is above neutrality and persists in stretching the gains beyond the key moving averages. Moreover, the price action faovrs the bulls and suggests that following on buying traction will skyrocket AMP stock toward $380, followed by $400 soon. Moreover, AMP stock looks positive and attained momentum from the past sessions, showing long buildup activity.

Technical Levels

Support Levels: $330 and $315

Resistance Levels: $360 and $400

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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