AAXN soars 2.77% closing $1.98 higher

Axon Enterprise Inc (AAXN) Technical Analysis Report for Sep 14, 2018

Highlights

AAXN rallies 2.77% closing $1.98 higher
AAXN closes higher for the 2nd day in a row
AAXN ends the day on a bullish note closing near the high of the day
AAXN pushes through previous session high
AAXN rises to highest close since July 23rd

TQ Sentiment

Report Sentiment: 37% Bullish
Technical Forecast:

Overview

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.

Daily chart for AAXN

Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 73.64.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Axon Enterprise Inc

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