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AXON-5.37%  selloff has proven extreme this week, but keep in mind that the stock remains at double the levels it was trading last August and still above a 50% retracement of those prior August lows. It is in midst of its wave C of ABC type corrective decline which started last December. Gap downs particularly are associated with Wave 3 within a certain move but is growing closer to a low, in my view. I don't sense that AXON breaks 500.. so overall, this big pullback initially will be right to expect to stabilize and bounce. If/when it does not get back to highs, it will be right to evaluate this. But the bigger picture takeaway is that the larger structure still hasn't grown too negative which is all based on its volatility higher which now has led to its first real correction down. I don't mind sticking with AXON and will monitor in the next couple months on rallies, and specifically, if this can't rally back.

AXON-5.37%  has pushed up even more after today's open following yesterday's positive earnings, revs and outlook. AT a price of $568, this is certainly overbought, but i detailed targets in last night's report which i would encourage all to revisit. Great company and stock. Today's big low to high range on big volume is typically not something i advocate selling into. However, being up 33% today alone warrants risk management potentially for those with shorter timeframes or higher risk aversion. I expect this to exceed $600 and still like technically and will hold on my UPTICKS list.

UPTICKS stock Axon Enterprises (AXON-5.37% ) has successfully broken out above its 5.5 month base which had been building since March-- The stock is higher by over 17% today and one can see the importance of having exceeded $326 which has been tested on three separate occasions since this past Spring. A very good move and volume likely could double its 30-day avg by end of day. Given the momentum and daily and weekly bullish range, upside targets lie initially near 367 and above that can allow for a move up to 424. Overall, a very bullish breakout for this stock today, which should lead to further gains into September.