Axa the turmoil in the financial sector is not yet erased
Analysis published on Monday, April 17, 2023
A few weeks ago, a banking panic born in the United States put pressure on the financial world with banks and insurance companies in the front line. It was on this occasion that the action of the French insurer broke down its oblique support line which had been guiding a nice positive trend since last autumn.
In the aftermath, volatility soared in very large trading volumes. Since then, Axa has not returned to its uptrend but has nonetheless benefited from bargain buying which has enabled it to develop a fairly substantial technical rebound. For the moment, however, we are sticking to this theme and we cannot yet speak of a trend reversal and a return to the one that prevailed before the crisis.
For that it would be necessary to return to place itself above the line of oblique resistance and that does not seem relevant in the short term. On the contrary, it seems to us that the adjustments are not finished and we anticipate a resumption of the correction until reaching the first small technical support located around €26.
© www.abcbourse.com
Want more analysis and daily trading signals?
Boost your portfolio with ABC Premium Stock Exchange !
Did you like this article ? Share it with your friends by clicking on the buttons below:
The information and analyzes disseminated by ABC Bourse only constitute a decision-making aid for investors. ABC Bourse cannot be held liable directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
