Exact Sciences Corporation, a molecular diagnostics company, focuses
on developing diagnostic screening products for the early detection and
prevention of colorectal pre-cancer and cancer. The company develops the
Cologuard, a non-invasive stool-based DNA colorectal cancer-screening
test that is designed to detect pre-cancerous lesions or polyps, and
each of the four stages of colorectal cancer. Its Cologuard test
includes proprietary and patented methods that isolate and analyze the
human DNA that are shed into stool every day from the exfoliation of
cells that line the colon; and also protein marker to detect blood in
the stool, utilizing an antibody-based fecal immunochemical test. The
company’s stool-based DNA colorectal cancer screening technology also
focuses on the inflammatory bowel disease. It has collaboration,
license, and purchase agreement with Genzyme Corporation, as well as
with Mayo Clinic for developing tests to detect other gastro-intestinal
cancers, primarily esophageal and pancreatic cancer.
Take a look at the 1-year chart of Exact (Nasdaq: EXAS) below with my added notations:
Over the last 5 months EXAS has consistently moved higher. During
that time the stock had also formed a nice trend line of support (blue).
Always remember that any (2) points can start a trend line, but it’s
the 3rd test and beyond that confirm its importance. So, you can see
that EXAS’ trendline is very important. Yesterday the stock broke the
support.
The Tale of the Tape: EXAS has broken below trend
line support. A short position could be entered on a rally up to the
trendline, which is currently near $19, with a stop placed above that
level. A long position could be entered if EXAS were to break back above
the trendline.
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