Axis Capital Holdings Ltd Stock Forecast

Red day on Friday for Axis Capital Holdings Ltd
(Updated on May 03, 2024)

AXS.L Signals & Forecast

The Axis Capital Holdings Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £56.19 and £56.51. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Axis Capital Holdings Ltd stock

Axis Capital Holdings Ltd finds support from accumulated volume at £55.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.16%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AXS.L) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Axis Capital Holdings Ltd to open at £57.60, and during the day (based on 14 day Average True Range), to move between £55.32 and £59.88, which gives a possible trading interval of +/-£2.28 (+/-3.95%) up or down from last closing price. If Axis Capital Holdings Ltd takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £59.00 (2.43%) than the support at £55.60 (3.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Axis Capital Holdings Ltd stock A Buy?

Axis Capital Holdings Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.374 Sell Candidate Unchanged

Predicted Opening Price for Axis Capital Holdings Ltd of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.