Short term view - AXA : Weak reaction on support
Prices were consolidating in a pattern. They broke below the lowest threshold of that pattern. The trend becomes bearish. The target is at €19.830. The invalidation is above€22.120.Arguments :
- The moving average is capping prices.
- The reaction on the support is weak, we anticipate its break soon.
AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
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