A subscriber inquired about a target for AXU, assuming it manages to break consolidation here. It’s something we covered in an update (along with a few others) last summer but I’d like to update it here for anyone with interest.
The first step is for this consolidation break to be real, not a head fake. Daily AXU has nosed out of the top line of the Handle and is in its 3rd day above the 50 day moving average. MACD is uninspiring still but RSI has an attractive look to my eye as it is above it’s EMA 20 and the 50 level.
The weekly chart is where the good stuff comes in. Again, this assumes that the daily above is able to hold this tentative breakout. The Handle consolidation has tested the top of the bullish pattern that has formed over the last year. A simple measurement of that pattern implies the 4.25 area. That remains the case as long as the pattern top around 2.50 holds up. But speaking personally, I do NOT want to see the daily chart breakout fail or I’ll reevaluate for the near-term.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.