What looks like a false breakout is turning into what could be an upward channel, Just shows why its better to scale in and out of positions. This way you scale in small and withstand any big swings and add on dips later. Still long and will add later.
Weekly chart
I've posted this before but was stopped out and noticed consolidation was going to be much longer than expected. Reminder: ARAY has never had 4 consecutive earnings beats until these last 4 qtrs. Financials look better than ever.
Looking back at previous earnings announcements I don't think $ARAY has ever beat estimates for 3 or more quarters in a row. Currently it has beaten estimates for the past 4 consecutive qtrs. Its up 223% since its March lows and currently try to break a 5 year resistance level. Will be watching this week.
Accuray, Inc. is a radiation oncology company. It engages in the development, manufacture and sale of treatment solutions that includes cyberKnife and tomo therapy systems, designed to deliver radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image-guided radiation therapy and adaptive radiation therapy. The company was...
On strong watch for a major breakout above long term downtrend.
Point of Control (POC Redline) also sits as major resistance.
Stock has rallied on the back of strong earnings.
Golden cross complete on MA's.
Potential targets on any break $4.70 - $5.00
ARAY on watch for a major breakout today as a result
of positive earnings results.
Alert set for move above $3.20
First major target $3.42
Fibonacci Target $3.70
This is a small company with low volume and low market cap but historically the stock price was around $10 and this stock will definitely rise after this COVID-19 situation is taken care of.
Accuray Incorporated (NASDAQ: ARAY) today reported its financial results for the third quarter of fiscal 2020 ended March 31, 2020.
Recent Company Highlights
Gross orders increased 27% year-over-year to $106.0 million, including 11 orders from China
Net orders of $76.7 million, an increase of 28% year-over-year
Total backlog increased 15% year-over-year to $569.9...
Accuray Incorporated
High volatility, low market cap 365.29M
Institutions Owns 84.50%
New Positions 31 2,839,901
Sold Out Positions 17 536,920
www.nasdaq.com
Short Float 6.07%
Nov-30-17 Initiated Lake Street Buy $10
Nov-01-18 Upgrade Citigroup Sell Neutral
number of Employees 998
CEO
Joshua H. Levine
Holdings of Joshua H. Levine ...
