TrendBridge

AXA Long Idea

Long
EURONEXT:CS   AXA
Logic: close & re-test of 50D EMA puts AXA in intermediate uptrend following significant drop and 2 months sideways consolidation.
Entry: €17.00- €17.20
Stop: €15.50 (can consider lower if longer term outlook)
Risk: -9.88%
Target: €20.50 & ultimately €23.00 yearly pivot retest from February drop.
Gain: +19.48% & longer term target +33.72%

Note: among highest rated European insurers with solid balance sheet and strong upside potential. Risk to upside thesis stem from claims due to Corona closures, lawsuits etc...
Comment: PS: AXA is paying €0.70c dividend, 8.29% yield. Ex-div date 9th July; pay date:13th July.
Comment: Gap Close on 5th June 2020.