Some kind of Wyckoff accumulationThe pattern seems taken from the wyckoff accumulation book. You be the judge.
0H8I trade ideas
$ARAY the ascending triangle is now an upward channelWhat 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.
$ARAY Attempting to break multiyear resistance. (Weekly Chart)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. Major Breakout Underway 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 founded by John R. Adler in 1990 and is headquartered in Sunnyvale, CA.
$ARAY Accuray Inc On watch for Muli-year Trendline Breakout
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 Accuray Corp Surges on earnings beat 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 million
Net revenue of $99.5 million, net income of $2.6 million, Adjusted EBITDA of $11.3 million
"Despite the economic upheaval around the world, Accuray, from an operational standpoint, had a solid third fiscal quarter," commented Joshua H. Levine, president and chief executive officer of Accuray. "Gross orders increased 27% year-over-year to $106 million compared to $84 million in the comparable quarter last year. Order momentum was evident in all but one of our regions. The Americas delivered its third consecutive quarter of double-digit or higher, year-over-year revenue growth. Gross orders in Europe, the Middle East and Asia increased 15% on a year-over-year basis. Our sales team did a great job in generating new orders during the third quarter."
"Revenue in the third quarter totaled $99.5 million, despite seeing our revenue conversion timing impacted by the COVID-19 pandemic in the month of March, when travel restrictions and lockdowns in certain markets went into effect. As a result, we view the impact to revenue conversion of certain orders during the quarter as 'timing related'."
Mr. Levine continued, "In China, we booked 11 new orders across both Type A and B products, 7 of which were through our China joint venture. We are pleased with the progress that the joint venture has made both commercially and operationally."
"We ended the quarter with cash, cash equivalents, and short-term restricted cash totaling $92 million. We remain very focused on cash flow management in this current environment and have taken actions to reduce cash operating expenses without impacting the future commercial trajectory of the business or our ability to service our customers." source prnewswire
supply/demand swing strategy
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 $10
Nov-01-18 Upgrade Citigroup Sell Neutral
number of Employees 998
CEO
Joshua H. Levine
Holdings of Joshua H. Levine
Name Equities % Valuation
Accuray Incorporated (ARAY)
Advanced Medical Equipment & Technology 1,040,197 1.20% 3,547,072 USD
Natus Medical Inc (BABY)
Advanced Medical Equipment & Technology 14,132 0.042% 480,912 USD
Accuray (NASDAQ:ARAY) commences the commercial launch of its Synchrony motion tracking and correction technology used with its radiotherapy Radixact System that it says enables real-time tracking, visualization and correction for tumor motion during treatment. Specifically, Synchrony is designed to correct for tumors that move during respiration, digestion or physical movement by the patient.
It was originally developed to enhance the automatic tracking and correction capabilities of the CyberKnife System.
seekingalpha.com
Technicals:
ARAY close at 4.25$ on 26/04/2019
days range 4.04 at 4.36
every cycle of demand has got the price .30-.60 higher
Looking for the zone to load 4/10 4.10 3/10 4.19 3/10 4.29 and sell all at 4.53
Alternative Idea On Accuray, Could It Be For The Bucket? I rarely change a call but Accuray is cause for concern. Poor management is major, a quick google and glass doors reveals a lot about the management. All the employees say, great products but bad management, passionate employees but bad management. Alarm bells! The company hasn't turned a profit despite growing revenue, so I remain undecided, not an investment for me but for the riskier cavalier, this could be a cheap stock with potential, if only they could have a change of management.
