August 9 Chart of the Day - American Axle & Manufacturing

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

American Axle & Manufacturing, Inc., (AXL) headquartered in Detroit, is a manufacturer of automobile driveline and drivetrain components and systems.

The company is making headlines today for surpassing earnings estimates again making that three of the last four quarters shooting its stock price up over 6%.

So today we wanted to review their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see a vast and wide price action spread between $42 and $0.26.  Admittedly, that's not something we see all too often...

Trading at $6.60 earlier today, price is essentially trading in the same area that it did about 5 years ago.

Weekly Chart

On the weekly chart we can see the last low that was set back in 2020 with an attempt to make a series of higher highs and higher lows only to be pushed back down and somewhat stuck in a range between $6.50 and $10.

Can price build on this earnings momentum and ultimately break out of this range?  Or will price get rejected again if it rises to the range top again.

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next?