0IJO trade ideas
Exelixis Inc ... top pick for 2020 ? Would that be the top pick of 2020 ? Exelixis shows strong balance sheet plus the growth potential from further expansion.
Stock Mover
- Exelixis Further Expands Prostate Cancer Cohort in Phase 1b
- Exelixis to Present at the 38th Annual J.P. Morgan Healthcare Conference on January 14, 2020
What do you guys think ?
Exelixis made a long-awaited trend line crossI've been waiting on this trend line cross in Exelixis for quite a while now. It's been getting lots of analyst upgrades, and the valuation has been looking better and better. I actually bought some of this in anticipation of the break yesterday, so I'm in the green today. Exelixis's valuation got a 99/100 score from S&P Capital IQ. It has an attractive P/E of 8. There was an insider sale by the senior vice president on October 10, which is a little worrying, but the stock held its price over the last few days, and this trend line breach means the stock should be bullish for the near future.
Exelixis bullish trend line breakExelixis broke above a downward sloping trend line and also pushed above its 20-hour EMA. It's also above the Hull Moving Average and has uptrending RSI and MACD with plenty of room to run before it gets overbought. This is a lovely trend line break with a likely run to at least 21 before next downward oscillation. Exelixis reports earnings on July 31, with an 8% positive earnings surprise prediction from Zacks. This breakout bodes well for the results!