Jim Cramer Says “This Is a Terrific Level to Buy American Express”

American Express Company (NYSE:AXP) was among the stocks Jim Cramer discussed as he said that the Iran peace negotiations could trigger an oil glut, cool inflation, and pull interest rates down. During the episode, a caller inquired if the stock is a “good buy,” and Cramer said:

This is precisely the level where I want you to put on a 50% position, half a position on literally next week, and then see if it comes down. The stock is very rarely down for the year, and it is down right now. It’s down 9%. Steve Squeri is doing a dynamite job. I think this is a terrific level to buy American Express. By the way, Capital One has the same exact chart, so don’t freak out. It’s what the credit cards are doing. But I think now that gasoline’s coming down, people are going to say, ha ha, things are going to get better.

American Express Company (NYSE:AXP) provides credit and charge cards, payment processing, banking, and travel-related services. The company also offers merchant solutions and expense management tools.

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