Defense stocks have been excellent relative performers over the past year and one mid-cap name in the space appears to be regaining its previously-strong form.
Axon Enterprise, Inc. (AXON), a $12.76 billion company, and formerly known as TASER International, Inc., has begun to turn higher and its PPO and AD line both support a continuing advance:
Enter Axon Enterprise, Inc. (AXON):
As AXON accelerated above its 50-day SMA on Monday, volume expanded well above its 50-day SMA. A little more than a week ago, AXON fell back to test a critical earnings-related gap support of 162.00. Following earnings, AXON rose to a high of 193.85 on November 18th, but five weeks later returned to 162.39, just 39 cents above key gap support. Patience truly does pay off in the stock market, which is why it's imperative to maintain ChartLists to organize research and potential trading candidates. Since that low of 162.39, AXON spiked to a high on Tuesday of 181.19, nearly a 12% advance in just 6 trading days.
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Happy Trading!Tom BowleyChief Market StrategistEarningsBeats.comBetter Timing. Better Trades. |