Host Jim Cramer responded, "Nothing is immune to the coronavirus, but I still like it."
Let's check out the charts and indicators of Axon Enterprise -- formerly Taser International.
In this daily bar chart of AAXN, below, we can see that prices have rallied strongly since November. Prices are above the rising 50-day moving average line as well as the rising 200-day moving average line. In the middle of December we can see a bullish golden cross as the 50-day line crossed above the slower-to-react 200-day line. The daily On-Balance-Volume (OBV) shows a rise from November that mirrors the price movement. The Moving Average Convergence Divergence (MACD) oscillator has turned down to a take-profits sell signal from a lower high, creating a bearish divergence when compared to the price action.
In this weekly bar chart of AAXN, below, we can see that prices have more than tripled in the past three years. Prices are above the rising 40-week moving average line. The weekly OBV line shows a positive trend over the past three years, but in February the line is a little weaker and suggests that sellers have turned more aggressive. The MACD oscillator is in a bullish configuration above the zero-line.
In this daily Point and Figure chart of AAXN, below, we can see that a potential $76 downside price target is being projected.
Bottom line strategy: With a downside price target from our Point and Figure chart and a weak broad market I would go slow on any purchases of AAXN.