Axis Capital Holdings Ltd Stock Forecast
Evaluation of Axis Capital Holdings Ltd stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Axis Capital Holdings Ltd stock price fell by -3.51% on the last day (Thursday, 25th Apr 2024) from £57.00 to £55.00. During the last trading day the stock fluctuated 0% from a day low at £55.00 to a day high of £55.00. The price has been going up and down for this period, and there has been a -6.94% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -25 thousand shares and in total, 10 thousand shares were bought and sold for approximately £560.45 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Axis Capital Holdings Ltd stock with a 90% probability to be traded between £51.73 and £61.82 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AXS.L Signals & Forecast
There are few to no technical positive signals at the moment. The Axis Capital Holdings Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £56.46 and £55.82. 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 12, 2024, and so far it has fallen -9.09%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Axis Capital Holdings Ltd stock
Axis Capital Holdings Ltd finds support from accumulated volume at £53.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. 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 4.41%.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Axis Capital Holdings Ltd to open at £55.00, and during the day (based on 14 day Average True Range), to move between £52.74 and £57.26, which gives a possible trading interval of +/-£2.26 (+/-4.10%) 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 8.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £55.60 (1.09%) than the support at £53.20 (3.27%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.531 Sell Candidate Downgraded
Predicted Opening Price for Axis Capital Holdings Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £55.00 ( 0%) | £55.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXS.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.00 | . | |
| R2 | 55.00 | . | ||
| R1 | 55.00 | . | ||
| Current price: | 55.00 | |||
| Support | S1 | 55.00 | . | |
| S2 | 55.00 | . | ||
| S3 | 55.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.00 | 7.27 % | |
| R2 | 58.80 | 6.91 % | ||
| R1 | 55.60 | 1.09 % | ||
| Current price | 55.00 | |||
| Support | S1 | 53.20 | -3.27% | |
| S2 | 52.00 | -5.45% | ||
| S3 | 51.00 | -7.27% |
AXS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2008 | Jul 23, 2008 | Aug 22, 2008 | £4.94 | 0.417% |
FAQ
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