Axcelis Technologies Inc

ACLS remains in a Stage 4 decline with active Bearish Pivot Point confirming medium-term bearish control. Price trades below declining 9 and 21 EMAs and recently bounced into them without clear rejection, so we defer selling until price tests and is rejected by the EMA zone. The long-term uptrend above the 200 DMA is intact but not actionable in the current downtrend.

• ↑EV/AI adoption drives silicon carbide and gallium nitride revenue growth.
• ↑Veeco merger expected to unlock complementary technology and cost synergies.
• ↓Stock trades ~63% above its $87.54 intrinsic value estimate.