AXA has turned negative.Axa - 30d expiry - We look to Sell a break of 25.89 (stop at 26.71)
We are trading at overbought extremes.
Short term bias has turned negative.
Short term MACD has turned negative.
The bearish engulfing candle on the daily chart is negative for sentiment.
There is no clear indication that the downward move is coming to an end.
A break of the recent low at 25.93 should result in a further move lower.
Our profit targets will be 23.92 and 23.12
Resistance: 26.70 / 27.00 / 27.68
Support: 25.93 / 25.00 / 24.30
Disclaimer – Saxo Bank Group.
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