AAXN soars 2.77% closing $1.98 higher
Axon Enterprise Inc (AAXN) Technical Analysis Report for Sep 14, 2018
Moving higher for the 2nd day in a row, AAXN finished the week 4.19% higher at 73.41 after surging $1.98 (2.77%) today. This is the biggest single day gain in over a month. Today's closing price of 73.41 marks the highest close since July 23rd. Closing above Thursday's high at 72.13, the share confirms its breakout through the prior session's high having traded $1.48 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $1.97 (2.73%), that's slightly above last trading month's daily average range of $1.91. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 70.35 and 73.64 which it has been in now for the last trading week.
Prices are trading close to the key resistance level at 73.64.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 73.64 where further buy stops could get activated. With prices trading close to this year's high at 76.45, upside momentum might speed up should the stock be able to break out to new highs for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
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