$AXS just finished a sharp pump and is now giving back gains. Short-term momentum has flipped weak, so fading the bounce is safer than chasing longs.
Call: SHORT AXS
Entry: 1.76–1.80
Targets: 1.65 → 1.50 → 1.32
Stop-loss: 1.92
After spiking from 0.93 to 1.89, price failed to hold the top and pulled back to 1.74 (-10.9%/24h).
This is a classic spike → distribution → retrace structure.
Heavy volume (~383M) during the drop signals profit-taking, not accumulation.
The 1.80–1.90 zone is strong resistance, and any weak bounce into it is likely to get sold. As long as AXS stays below 1.90, downside continuation toward 1.60 and 1.30 remains the higher-probability path.
