Accuray Inc

ARAY is entrenched in a Stage 4 decline with persistent lower highs and lower lows under declining EMAs. The primary Capitulation pattern suggests forced selling may be waning, but no recovery structure has formed. Price remains extended below short- and medium-term EMAs with extreme oversold conditions, deterring immediate selling. Execution should be deferred—selling into rallies up into the declining EMA zone for rejection—aligning with the Speculative strategy’s requirement for clear asymmetry before engaging the sell side.

• ↑Service revenue grew 4% YoY to $55.1M, representing 49% of Q3 revenue.
• ↑Order backlog of ~$396M provides visibility into near-term cash flows.
• ↓Product revenue fell 11% YoY to $49.7M, largely due to China tariffs.