Axcelis Technologies (ACLS) has a strong-looking chart and bullish indicators. Our Point and Figure chart only gives it a modest upside target, but I think it could be a "sleeper stock," that that could really outperform in the months ahead.
In this one-year daily bar chart of ACLS, below, we can see what could be an accelerating uptrend from August. The February through July price action looks like a positive consolidation pattern with a rising On-Balance-Volume (OBV) line.
The price action since August is much more bullish. Prices rally above the rising 50-day and 200-day moving average lines. The OBV line moves up more noticeably and the MACD oscillator moves above the zero line.
In this three-year weekly of ACLS, below, we can see a saucer bottom pattern, or a cup and handle pattern, if you prefer. Prices breakout of this pattern at $14. ACLS is above the rising, 40-week moving average line. The weekly OBV line has been rising over the past three years, suggesting good accumulation. The MACD oscillator is bullish on this timeframe.
In this Point and Figure chart of ACLS, above, we can see the breakout at $14 and a target of $19, however the base looks a lot more powerful (read bullish) to me -- and I suspect $19 will only be a stopping point to much higher prices.
Bottom line: I would buy ACLS here and on a close above $17. I would recommend a sell-stop below $14.50 for now. $19 is just the first upside target I think ACLS can reach.