Axon Enterprise $AXON Downtrend Channel Breakout, MACD Buy Signal

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Axon Enterprise $AXON stock did a downtrend channel breakout on January 9, 2023, with a MACD buy signal. The downtrend channel breakout has not yet been confirmed so caution is warranted. $AXON stock is in a technical strong uptrend.

Axon Enterprise stock chart on January 9 2023 with a downtrend channel breakout pattern and a MACD buy signal
Axon Enterprise stock chart on January 9 2023 with a downtrend channel breakout pattern and a MACD buy signal

Axon Enterprise has evolved from a maker of hardware into a provider of the operating system used by law enforcement. With over 34% year-over-year growth, the company produced record Q3 revenues of $312 million.

AXON CLOUD UPGRADED TO HIGHEST LEVEL OF SECURITY STATUS BY US GENERAL SERVICES ADMINISTRATION

Axon Enterprise’s cloud-based Software as a Service (SaaS) solutions were granted high impact status by the Federal Risk and Authorization Management Program (FedRAMP) Joint Authorization Board (JAB) on December 20, 2022. The government customers of Axon will now be able to store the most private, unclassified information used by federal civilian agencies.

With the support of FedRAMP’s highest impact level of security, this status upgrade enables US government customers to use the Axon network in a secure manner with complete confidence. Workflows for digital evidence management, situational awareness, and records management are made possible by Axon’s cloud-based SaaS solutions. Axon’s FedRAMP status was previously listed as moderate level impact.

“We are proud to be leaders in data security, which is an ongoing challenge across the federal sector. There is a constant need to ensure sensitive information is protected across agencies and administrations as the government securely conducts business,” said Richard Coleman, Axon Vice President and General Manager of Federal Sector. “Axon is proud to serve the US government in this capacity and we continue to deepen our trusted relationships with federal agencies who see the value in our products, mission and commitment to law enforcement and communities.”

The SaaS cloud-based Axon FedCloud system, which has been granted high impact status, operates as a separate area of Axon Cloud Services that is exclusively for the US Federal community. Axon Evidence, Axon Respond, and Axon Records are among the services offered by US Axon FedCloud, which also serves as the main administrative hub for Axon hardware and client software. The US Department of Homeland Security, Department of Justice, and Department of Interior are among the numerous federal agencies currently utilizing Axon FedCloud.

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