AXA shares price confirmed its surrender to the bearish bias domination recently by forming strong negative attack and surpassing 61.8% Fibonacci correction level at 20.50, noticing recording new negative target at 19.15.

We expect 19.70 level to form additional resistance besides stochastic consolidation within the oversold areas to resume the negative attack and manage to reach 18.70 level, followed by pressing on the bearish channel’s support line at 18.00.

Expected trading range for today is between 19.70 and 18.70

Expected trend for today: Bearish