In-Depth Technical Analysis of EXACT SCIENCES CORP.

Our stock screener has identified EXACT SCIENCES CORP (NASDAQ:EXAS) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:EXAS.

In-Depth Technical Analysis of NASDAQ:EXAS

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

We assign a technical rating of 7 out of 10 to EXAS. Although EXAS is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• 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 67.04 - 71.99 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When comparing the performance of all stocks over the past year, EXAS turns out to be only a medium performer in the overall market: it outperformed 63% of all stocks.
• EXAS is an average performer in the Biotechnology industry, it outperforms 67% of 564 stocks in the same industry.

For an up to date full technical analysis you can check the technical report of EXAS

Looking at the Setup

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:EXAS is 9:

Besides having an excellent technical rating, EXAS also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 69.86. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 69.79, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

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.