Axis Capital Holdings Limited Stock Forecast
Red day on Wednesday for Axis Capital Holdings Limited stock after losing 0.88%
(Updated on Apr 17, 2024)
The Axis Capital Holdings Limited stock price fell by -0.88% on the last day (Wednesday, 17th Apr 2024) from $61.25 to $60.71. During the last trading day the stock fluctuated 1.43% from a day low at $60.45 to a day high of $61.31. The price has fallen in 7 of the last 10 days and is down by -7.13% for this period. Volume has increased on the last day by 92 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 582 thousand shares were bought and sold for approximately $35.35 million.
Given the current short-term trend, the stock is expected to rise 11.92% during the next 3 months and, with a 90% probability hold a price between $67.95 and $74.35 at the end of this 3-month period.
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AXS Signals & Forecast
There are few to no technical positive signals at the moment. The Axis Capital Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $62.20 and $62.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -7.34%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Axis Capital Holdings Limited stock
Axis Capital Holdings Limited finds support from accumulated volume at $59.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.87 (1.43%) between high and low. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AXS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Axis Capital Holdings Limited to open at $60.82, and during the day (based on 14 day Average True Range), to move between $59.54 and $61.88, which gives a possible trading interval of +/-$1.17 (+/-1.94%) up or down from last closing price. If Axis Capital Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.86 (0.25%) than the support at $59.08 (2.68%), 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 Limited stock A Buy?
The Axis Capital Holdings Limited stock holds several negative signals and despite the positive trend, we believe Axis Capital Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.255 Sell Candidate Unchanged
Predicted Opening Price for Axis Capital Holdings Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $60.82 ( 0.184%) | $60.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.69 | 1.61 % | |
| R2 | 61.36 | 1.06 % | ||
| R1 | 61.15 | 0.728 % | ||
| Current price: | 60.71 | |||
| Support | S1 | 60.49 | -0.360 % | |
| S2 | 60.29 | -0.697 % | ||
| S3 | 59.96 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.03 | 2.17 % | |
| R2 | 61.18 | 0.774 % | ||
| R1 | 60.86 | 0.247 % | ||
| Current price | 60.71 | |||
| Support | S1 | 59.08 | -2.68% | |
| S2 | 58.48 | -3.67% | ||
| S3 | 57.16 | -5.85% |
AXS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 01, 2024 | Apr 18, 2024 | $0.440 | 0.725% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Jan 18, 2024 | $0.440 | 0.796% |
| 3 | Sep 20, 2023 | Sep 29, 2023 | Oct 18, 2023 | $0.440 | 0.752% |
| 4 | May 03, 2023 | Jun 29, 2023 | Jul 18, 2023 | $0.440 | 0.82% |
| 5 | Feb 22, 2023 | Mar 30, 2023 | Apr 18, 2023 | $0.440 | 0.773% |
FAQ
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