Axon Enterprise Inc. ( AXON) is best known as the manufacturer of Tasers, but also produces body cameras and other products that enable law enforcement to capture, share and analyze video and other digital evidence.
Let's check out the charts and indicators of this stock that is a holding in TheStreet's Action Alerts PLUS portfolio.
In the daily bar chart of AXON, below, I see a small bottom in May/June of last year followed by an impressive rally into March of 2023. The shares trade above the rising 50-day moving average line and above the rising 200-day moving average line.
The On-Balance-Volume (OBV) line shows a nice rise from June and tells us that buyers of AXON have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of the past 12 months.
In thw weekly Japanese candlestick chart of AXON, below, I see a positive-looking price chart with no top reversal pattern visible. AXON is in an uptrend and trades above the rising 40-week moving average line.
The OBV line has a positive slope. The MACD oscillator is in a bullish alignment above the zero line.
In this daily Point and Figure chart of AXON, below, I can see an upside price target in the $237 area.
This weekly Point and Figure chart of AXON, below, sees a price target as high as $297.
Bottom-line strategy: The charts and indicators of AXON can support further gains. Trade AXON from the long side risking to $198 for now.
(Axon Enterprise is a holding in the Action Alerts PLUS member club . Want to be alerted before AAP buys or sells AXON? Learn more now. )
