Bullish on Ameriprise
Analysis:
Ameriprise Financial (AMP) reported strong Q4 2023 earnings results on January 25th, beating expectations. Revenues were up 12% year-over-year, driven by growth in their Advice & Wealth Management segment.
The stock price has been trending upwards over the past year, gaining over 50% to current levels around $393. Recently announced dividend of $1.35 and ex-date of Feb. 8th could further support the share price.
Technical indicators also look bullish, with the fast stochastic oscillator showing the stock currently oversold and due for a bounce.
Entry Point: Buy on a pullback to support around $401.39.
Exit Point: Take profits around $428.63, the all-time highs set in December 2022.
Stop Loss: Place stop loss below recent swing low support at $389.58 to limit downside risk.
Ameriprise Financial (AMP) reported strong Q4 2023 earnings results on January 25th, beating expectations. Revenues were up 12% year-over-year, driven by growth in their Advice & Wealth Management segment.
The stock price has been trending upwards over the past year, gaining over 50% to current levels around $393. Recently announced dividend of $1.35 and ex-date of Feb. 8th could further support the share price.
Technical indicators also look bullish, with the fast stochastic oscillator showing the stock currently oversold and due for a bounce.
Entry Point: Buy on a pullback to support around $401.39.
Exit Point: Take profits around $428.63, the all-time highs set in December 2022.
Stop Loss: Place stop loss below recent swing low support at $389.58 to limit downside risk.
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