Axis Capital Holdings Limited Stock Forecast
Weaker technical forecast for Axis Capital Holdings Limited as stock downgraded to Buy Candidate.
(Updated on Mar 28, 2024)
The Axis Capital Holdings Limited stock price gained 0.0462% on the last trading day (Thursday, 28th Mar 2024), rising from $64.99 to $65.02. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.86% from a day low at $64.76 to a day high of $65.32. The price has risen in 7 of the last 10 days and is up by 3.16% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 140 thousand more shares were traded than the day before. In total, 729 thousand shares were bought and sold for approximately $47.42 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.97% during the next 3 months and, with a 90% probability hold a price between $73.85 and $77.64 at the end of this 3-month period.
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AXS Signals & Forecast
Mostly positive signals in the chart today. The Axis Capital Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $64.04 and $62.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 7.85%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Axis Capital Holdings Limited stock
Axis Capital Holdings Limited finds support from accumulated volume at $62.03 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 $0.560 (0.86%) between high and low. For the last week, the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: $61.73 (-5.07%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (AXS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Axis Capital Holdings Limited to open at $65.03, and during the day (based on 14 day Average True Range), to move between $64.04 and $66.00, which gives a possible trading interval of +/-$0.98 (+/-1.50%) 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 3.01% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $62.03, some $2.99 (4.60%) from the current price of $65.02, our system finds the risk reward attractive.
Is Axis Capital Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Axis Capital Holdings Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.854 Buy Candidate Downgraded
Predicted Opening Price for Axis Capital Holdings Limited of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$65.03 ( 0.0205%) | $65.02 |
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 | 65.59 | 0.88 % | |
R2 | 65.38 | 0.553 % | ||
R1 | 65.25 | 0.350 % | ||
Current price: | 65.02 | |||
Support | S1 | 64.82 | -0.308 % | |
S2 | 64.69 | -0.512 % | ||
S3 | 64.47 | -0.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 65.02 | |||
Support | S1 | 62.03 | -4.60% | |
S2 | 58.48 | -10.06% | ||
S3 | 57.16 | -12.09% |
AXS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 01, 2024 | Apr 18, 2024 | $0.440 | 0.677% |
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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