AXS has been trading in a very steep bullish channel for over a year. However, during the most recent bearish move AXS was heavily shorted and sold off from $165 to $42, making it one of the biggest losers of the last few months.

However, when the fall is steep, there’s a high probability that the rise will be steep as well. Over the last week, AXS has been gaining around +35% and is shaping up to be one of the winners of the current week. I’m eyeballing the $100 resistance for the coming 2-3 weeks as a potential target.

If things keep on being bullish , we might be looking at a new all-time high in the coming months, potentially end of summer.

Happy trading!