Technical Setup: EXACT SCIENCES CORP Appears Poised for a Breakout.

Our stock screener has detected a potential breakout setup on EXACT SCIENCES CORP (NASDAQ:EXAS). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:EXAS.

Technical analysis of NASDAQ:EXAS

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall EXAS gets a technical rating of 9 out of 10. Both in the recent history as in the last year, EXAS has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• EXAS is part of the Biotechnology industry. There are 568 other stocks in this industry. EXAS outperforms 77% of them.
• EXAS is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so EXAS is lagging the market slightly.
• In the last month EXAS has a been trading in the 65.10 - 71.99 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, EXAS did better than 87% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.

Our latest full technical report of EXAS contains the most current technical analsysis.

How does the Setup look for NASDAQ:EXAS

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:EXAS exhibits a 10 setup rating, indicating its consolidation status in recent days and weeks.

EXAS has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 70.40. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 65.96, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EXAS in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NASDAQ:EXAS

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.