November 10 Chart of the Day - Axon
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Axon Enterprise (AXON), the company behind the well-known TASER devices and a leading provider of public safety technology solutions including body cameras and cloud-based evidence management, has been one of the market’s strongest performers in recent years.
After a massive run to its $885 high, price has since pulled back sharply, raising the question of whether this correction is simply a reset in an ongoing uptrend or the start of a deeper retracement.
We'll review the chart from a price action perspective to identify potential levels of interest in both directions.
The charts highlight key levels where investors and traders alike will be watching closely.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
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Monthly Chart
On the monthly chart, Axon’s long-term trajectory remains impressive despite recent volatility.
Following an explosive climb from sub-$200 levels, price reached a peak at $885 before retracing back toward the $580–$600 zone. This area aligns with prior structural support and sits just above the 50% Fibonacci retracement of the broader move, keeping the long-term uptrend technically intact for now.
A sustained close below $580, however, could invite deeper retracement toward $485 or even $390, where the 61.8% retracement resides. Conversely, a recovery back above $700 would signal renewed strength and potentially a continuation of Axon’s dominant multi-year trend.
With plenty of volatility traders have had much to be happy with but long term buy and hold investors have been hugely disappointed if they're still holding.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
The weekly chart adds more detail to the current correction, highlighting a long gray rectangle change control zone, a concept we use to identify key regions where neither buyers nor sellers have full control.
Price is currently hovering inside this change control zone ($560–$595), suggesting a battleground area where accumulation and distribution are actively competing.
If buyers manage to reclaim control and push above the upper edge of this zone, a rebound toward $700–$760 could follow. If not, price may retest deeper support levels around $485 or $390.
This change control zone often serves as a critical pivot for future direction — watch closely to see which side gains the upper hand as volatility compresses.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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