I remember in the early 1990s one of the hottest stocks was Taser International (TASR) which made, unsurprisingly, Tasers. They have expanded their product line, and the new company, Axon, has been blasting higher for years.
In recent months, however, it has carved out a well-formed head and shoulders top. The stock lost about $200 per share from mid-August to mid-October, but for those who missed it, I think a second chance to get short is very close. The neckline itself (dashed line below) is at 694.72, so I’ve shorted this with a stop at $695.
Here is a longer-term view, showing how high the price is relative to its long-term ascending channel. Earnings, incidentally, are going to be reported on November 4th.
