January 19, 2023

Axon Is Flashing Bullish Signs

One of the best buys in 2022 for the Action Alerts PLUS portfolio was Axon Enterprise (AXON) , formerly Taser, as it made its way toward the anchored VWAP (volume-weighted average price) on the chart. That was in the fall, and since then the stock has been on a roll.

Axon develops, manufactures, and sells conducted energy devices and cloud-based digital evidence management software designed for use by law enforcement, corrections, military forces, private security personnel, and private individuals for personal defense.

A recent pullback on lighter turnover gave investors a great opportunity to get on board. More recently this year the stock has made great strides and is about the roll past those November highs. Again, the stock moved above the anchored VWAP (top chart) and is hustling higher.

The Moving Average Convergence Divergence (MACD) is on another buy signal, the TDI (Traders Dynamic Index) at the bottom pane is moving upward and we have a double crossover move. That is bullish.

Look for this stock to make a run towards $200 before too long.

https://share.trendspider.com/chart/AXON/4669v3mdt2

(Axon is a holding in the Action Alerts PLUS member club. Want to be alerted before AAP buys or sells AXON Learn more now.)

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