$AXS is currently in a recovery leg following a prolonged drawdown. The recent higher-low formation is structurally important, as it signals potential trend resumption rather than a dead-cat bounce. Volume behavior supports accumulation rather than distribution.
However, overhead supply from previous breakdown levels still exists, meaning upside may come in measured legs rather than a straight impulse.
Trading Consideration:
Best suited for swing continuation rather than aggressive leverage.
EP: 2.60 – 2.68
TPs: 2.90 / 3.20 / 3.55
SL: 2.42
