Axis Capital Holdings Limited continues its bullish trend in order to test new highest level.

The company shows strong fundamentals. Firstly, the net income for the 1Q 2013 came out at USD 303 million, 136% above expectations. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the USD 45.21 short term support. This trend should allow the stock to reach its USD 48 bullish trend line, which will be the first target price.

In consequence, investors can take a long position in Axis Capital with a first target price at USD 48. A stop loss will be set under the USD 45.21 short term support.