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published in Blogs

Feb 13, 2019

Exelixis (EXEL) hit the lower rail of its upward sloped trend channel ahead of earnings

Biotech firm Exelixis (Nasdaq: EXEL) has been trending higher since the end of October. There have been cycles within the overall upward trend and those cycles have created a trend channel. The lows from October and December connect to form the lower rail. The highs from November and January connect to form the upper rail. The stock hit the lower rail of the channel on February 8 and that was just ahead of the company’s earnings report on February 12.

The oscillators were both low with the 10-day RSI close to oversold territory and the daily stochastic readings were in oversold territory. The stochastic readings just made a bullish crossover at the close on the 12th. That pattern looks similar to what we saw at the end of December.

Tickeron’s A.I. Trend Prediction tool generated a bullish signal on Exelixis on February 11. That prediction showed a confidence level of 85% for a move of 4% or more within the next month and 86% of the predictions of this kind have been successful in the past.

The company reported earnings after the close on February 12 and the results were better than analysts’ estimates. The company earned $0.37 per share which beat the consensus estimate of $0.25. Exelixis reported revenue of $228.6 million and that beat the estimate of $195.7 million.

Exelixis has seen its sales grow at a rate of 212% per year over the last three years. Earnings grew by 208% in the quarter and sales were up 48%. The company boasts a return on equity of 82.4% and a profit margin of 35%. It is also worth noting that the company doesn’t have any long-term debt.

Related Tickers: EXEL

John Jacques

published in Blogs

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Edward Flores

published in Blogs

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Sergey Savastiouk

published in Blogs

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published in Blogs

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Dmitry Perepelkin

published in Blogs

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Allana

published in Blogs

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published in Blogs

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Sergey Savastiouk

published in Blogs

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John Jacques

published in Blogs

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If Hedge Funds are Using AI to Invest, Why Shouldn’t You?

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Sergey Savastiouk

published in Blogs

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The five most important Lessons Learned After 10,000 hours of Trading

Ten thousand hours of active trading, broken down into forty-hour weeks, amounts to almost five years. Having surpassed that milestone myself, I now understand why it's significant for any trader's journey. The early years taught me valuable lessons that have shaped my approach to trading. It's a misconception that great traders are born with innate talent. The truth is that it takes years of...