As of close Wednesday, AXXA was displaying multiple oversold leaning technicals that could be signaling an upcoming bounce.
At this moment, AXXA is trading above 1 key line of potential support:
- 100-Day Simple Moving Average
Why is this important? When a profile trades above this line, traders may gain confidence from these levels holding as potential support for a continued vertical move.
BARCHART is reporting AXXA as a “BUY” based on overall technical indicators https://www.barchart.com/stocks/quotes/AXXA/overview
Here are a few to keep a close eye on (reported by Barchart):
- 9-Day Relative Strength Index: 25.59%
When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued.
- 14-Day Raw Stochastic: 6.93%
- 14-Day Williams %R: 93.07%
As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued.
In recent weeks, AXXA has been on a pullback since a February 9th high of $0.18.
From current levels, that February high provides AXXA with huge upside potential over 200%.
Now, I’m not saying this profile is going to go surging to those levels today, but you need to recognize how much higher AXXA was trading in the recent term.
Plus, this pullback could be signaling a potential healthy reversal in this profile’s future.
Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with a licensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewers entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. We encourage viewers to invest carefully and read the investor issuer information available at the web sites of the SEC. The SEC has launched an investor-focused website to help you invest wisely and avoid fraud at www.investor.gov