Exploring NASDAQ:VCYT's high growth characteristics.

Our stock screener has spotted VERACYTE INC (NASDAQ:VCYT) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:VCYT.

Deciphering the Technical Picture of NASDAQ:VCYT

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 9 out of 10 to VCYT. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, VCYT is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that VCYT is one of the better performing stocks in the market, outperforming 92% of all stocks.
• VCYT is part of the Biotechnology industry. There are 572 other stocks in this industry. VCYT outperforms 90% of them.
• VCYT is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so VCYT is performing more or less in line with the market.
• In the last month VCYT has a been trading in the 38.44 - 45.08 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of VCYT for a complete technical analysis.

How does the Setup look for NASDAQ:VCYT

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:VCYT has a 8 as its setup rating:

Besides having an excellent technical rating, VCYT also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 44.14. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 40.86, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Some of the high growth metrics of NASDAQ:VCYT highlighted

• The quarterly earnings of VERACYTE INC have shown a 146.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• The q2q revenue growth of 28.58% of VERACYTE INC highlights the company's ability to generate incremental revenue and suggests positive market demand for its products or services.
• VERACYTE INC has demonstrated strong 1-year revenue growth of 23.95%, reflecting revenue momentum and its ability to generate consistent top-line expansion. This growth underscores the company's strong market position and its potential for future success.
• Over the past 3 months, analysts have adjusted their EPS Estimate for VERACYTE INC with a 822.0% change. This highlights the evolving outlook on the company's EPS potential.
• The quarterly earnings of VERACYTE INC have shown a 146.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• The earnings per share (EPS) growth of VERACYTE INC are accelerating: the current Q2Q growth of 146.0% is above the previous year Q2Q growth of -242.0%. Earnings momentum and acceleration are key for high growth systems.
• With a favorable trend in its operating margin over the past year, VERACYTE INC demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
• VERACYTE INC has shown positive growth in its free cash flow (FCF) over the past year, indicating improved cash generation and financial strength. This growth highlights the company's ability to effectively manage its cash flows and generate surplus funds.
• VERACYTE INC maintains a healthy Debt-to-Equity ratio of 0.0. This indicates the company's conservative capital structure and signifies its ability to effectively manage debt obligations while maintaining a strong equity position.
• VERACYTE INC has exceeded EPS estimates 3 times in the last 4 quarters, demonstrating its ability to outperform market expectations. This trend highlights the company's strong financial performance and its potential for future growth.
• VERACYTE INC has exhibited strong Relative Strength(RS) in recent periods, with a current 92.75 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position. VERACYTE INC shows promising potential for continued price momentum.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.