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Watch for Axis Capital to Potentially Pullback After Gaining 1.01% Yesterday

By James Quinn

Axis Capital (NYSE:AXS) traded in a range yesterday that spanned from a low of $56.99 to a high of $57.07. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $56.93 on volume of 419,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Axis Capital share prices have moved between a 52-week high of $60.69 and a 52-week low of $48.27 and are now trading 18% above that low price at $57.07 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Axis Capital on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.14. Since that recommendation, shares of Axis Capital have risen 6.3%. We continue to monitor AXS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders axis capital

Ticker(s): AXS