Monday, October 7, 2024

How to Use Pre-Election Volatility in Your Favor

Trade of the Day Wake-Up Watchlist

"AXON remains a top watchlist pick ahead of the election."

Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance

Bryan Bottarelli

Last Monday, I mentioned Axon (AXON) as one of my top watchlist picks heading into the 2024 Election.

My reasoning was simple…

AXON sells hardware and cloud-based software that enable law enforcement to capture, securely share and analyze video and other digital evidence.

It even offers body cam footage for law enforcement officers – which is now becoming the norm for every tactical and first responder in the country.

And unfortunately, recent political elections show violence is a real possibility.

In the 2022 midterms, the speaker of the House of Representatives was targeted in an assassination attempt.

Republican Presidential Candidate Donald Trump was also targeted by an armed shooter during his campaign rally in July.

Due to this potential unrest heading into November, I forecasted AXON's stock would move up.

And last Friday, almost on cue, we saw a nice pop on the company.

 

As you'll see in the chart above, AXON made a strong move from the $400 mark all the way up to $418 as of Friday, Oct. 4.

This is why AXON remains one of my top election plays heading into November.

I closed AXON for a 9% winner in 1 trading day, and the recent great pop on Friday allowed one War Room member to exit for even higher profits.

Here's what a few members had to say about the AXON trade this week…

 

 

 

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Action Plan: With AXON continuing to climb, it remains one of my top election plays heading into November. As a general rule, stocks making new 52-week highs continue to make new highs, so this is a name we can reload on pullbacks.

AXON is just one of several 2024 Election plays we're watching in The War Room. Last week my colleague Karim Rahemtulla closed a 35% winner on his election pick MARA in 9 trading days.

Click here to start receiving all of our trade alerts in The War Room today.

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