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...
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PS: AXA is paying €0.70c dividend, 8.29% yield. Ex-div date 9th July; pay date:13th July.