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After Yesterday's Rally of 1.81% Shares Could Potentially Pullback

By Amy Schwartz

Axis Capital (NYSE:AXS) traded in a range yesterday that spanned from a low of $50.01 to a high of $51.76. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $51.19 on volume of 441,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Axis Capital on August 25th, 2017 by issuing a Downtrend alert when the shares were trading at $62.43. Since that call, shares of Axis Capital have fallen 19.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Axis Capital share prices have moved between a 52-week high of $71.06 and a 52-week low of $47.98 and are now trading 8% above that low price at $51.65 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders axis capital

Ticker(s): AXS