We've identified EXELIXIS INC (NASDAQ:EXEL) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:EXEL for further developments.
Technical analysis of NASDAQ:EXEL
Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.
We assign a technical rating of 7 out of 10 to EXEL. In the last year, EXEL was one of the better performers, but we do observe some doubts in the very recent evolution.
- The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
- When comparing the yearly performance of all stocks, we notice that EXEL is one of the better performing stocks in the market, outperforming 85% of all stocks. We also observe that the gains produced by EXEL over the past year are nicely spread over this period.
- EXEL is one of the better performing stocks in the Biotechnology industry, it outperforms 84% of 604 stocks in the same industry.
- EXEL 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 EXEL is lagging the market slightly.
- In the last month EXEL has a been trading in the 19.24 - 22.28 range, which is quite wide. It is currently trading near the high of this range.
Check the latest full technical report of EXEL for a complete technical analysis.
How does the Setup look for NASDAQ:EXEL
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:EXEL has a 8 as its setup rating:
EXEL 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 very little resistance above the current price. There is a support zone below the current price at 21.25, a Stop Loss order could be placed below this zone.
Trading setups like NASDAQ:EXEL
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.
Disclaimer
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
