The technical picture of the AXA Group stock (EPA: CS) on our 4-hour chart shows that share price is currently stalling slightly below the 22.90 barrier, marked by the current highest point of June. That barrier is also the upper side of the short-term range, which is roughly between the 22.00 and 22.90 levels. At the same time, within that range, the share price is balancing above a short-term upside support line taken from the low of May 27th. Although there are indications of a possible move higher, we will take a neutral stance, as long as CS trades inside that range.
If, eventually, the upper side of the aforementioned range surrenders and the stock pops above it, such a move may attract more buyers into the game. This could open the door for a further move north, where the next target might be the 23.12 zone, marked by the high of May 10th, where a temporary hold-up could happen. That said, if there is still enough buying interest even at that price, CS may travel further north towards the 23.28 obstacle, or to the 23.50 level, marked by the inside swing low of May 5th.
Although the RSI is currently pointing lower, it remains above 50, which shows that the momentum is still on the positive side. The MACD is currently flat but continues to run above zero and its trigger line. The two oscillators are somewhat in support of the above-mentioned scenario, however, a push through the upper side of the range is still needed.
Alternatively, if the share price breaks the previously discussed upside line and then falls below the 22.56 hurdle, marked by the low of May 31st, that could spook new buyers from entering for a while. CS could then drift lower to the 22.36 obstacle, a break of which might clear the way towards the lower side of the range, which is roughly between the 22.08 and 22.00 levels. Those levels mark the low of May 26th and the lowest point of May respectively.
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