Long Position on AXON @ $192.00 on 11/18/2022 (Momentum)

Axon Enterprise, Inc. (AXON) develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. 

It operates through two segments, TASER, and Software and Sensors.

The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.

Its products include TASER 7, TASER X26P, TASER X2, TASER Consumer devices, and related cartridges; on-officer body cameras, Axon Fleet in-car systems, and other devices; Axon Evidence digital evidence management software; Axon Signal enabled devices, as well as hardware extended warranties; and Axon docks, cartridges, and batteries.

It sells its products through its direct sales force, distribution partners, online store, and third-party resellers. Axon Enterprise, Inc. has a strategic partnership with Fusus, Inc. to expand the capabilities of Axon Respond and the Fusus Real Time Crime Center in the Cloud solution to provide agencies real-time operations situational awareness, including streamlined investigative workflows. 

Shares have formed a bullish "flag" following the company's latest quarterly report. On November 8th, AXON reported 3rd Quarter September 2022 earnings of $0.70 per share on revenue of $311.8 million. The consensus earnings estimate was $0.46 per share on revenue of $279.1 million.  Revenue grew 34.4% on a year-over-year basis.

Guided Higher: The company said it expects 2022 revenue of $1.15 billion to $1.16 billion. The company's previous guidance was revenue of $1.07 billion to $1.12 billion and the current consensus revenue estimate is $1.11 billion for the year ending December 31, 2022. Higher share prices are expected. 

Entry Point: $192.00

Stop Loss: $181.00

Trading Range: $82.49 to $192.24

Target Price: $204.00

Position closed on 12/6/2022 at price of $181.00 with a -5.73% loss in 18 days.

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