Axon Enterprise Inc. (NASDAQ:AXON) stock traded higher on Tuesday morning, continuing its upward momentum into Tuesday.The movement follows federal financial disclosures filed in May, indicating that President Donald Trump purchased between $1 million and $5 million of AXON stock on Feb. 10.Axon is building a public safety operating system by integrating a suite of hardware devices and cloud software solutions.The company’s suite includes cloud-hosted digital evidence management solutions.ICE Outlines $220 Million Procurement PlanThe acquisition occurred two weeks before U.S. Immigration and Customs Enforcement (ICE) introduced a $220 million procurement plan on Feb. 24.According to a CNBC report, the agency issued a procurement notice seeking approximately 17,800 new Tasers, alongside unlimited cartridges and training.The timing of the stock purchase also followed an incident in Minneapolis where federal agents fatally shot two U.S. citizens during an immigration crackdown protest.Specifications Align With Core Product ProfileThe federal notice did not explicitly name a hardware manufacturer. However, data from investment firm Brown Advisory indicates that Axon Enterprise produces nearly 90% of all U.S. Tasers.Procurement reviewers and three policing experts cited in the report stated that the specifications outline capabilities that align exclusively with Axon products.CNBC reported that no evidence exists to show Trump was involved in or aware of the process, and no contract has been awarded.Independent Trust Structure Governs PortfolioThe Executive Branch previously stated that Trump’s investments are held in an independently managed trust, leaving him with no role in active trading decisions.Ethic filings reveal prior instances where Trump acquired stakes in corporations, such as Dell Technologies Inc. and NVIDIA Corp., before enacting related policy decisions.AXON Stock: Key Technical Levels To WatchAXON at $519.94 is trading 14.1% above its 20-day SMA ($457.59) and 23.5% above its 50-day SMA ($422.72), which is the kind of spacing you typically see when a rebound is in control. At the same time, the stock is still trading 2.6% below its 200-day SMA ($536.07), so it hasn’t fully reclaimed the longer-term trend line that many institutions watch.The moving-average structure is mixed: the 20-day SMA is above the 50-day SMA (bullish for the near-term trend), but the 50-day SMA remains below the 200-day SMA, reflecting the "death cross" that formed in November 2025. That combination often produces choppy trade near the 200-day as rallies run into supply from longer-term holders looking to sell into strength.