CAI International, Inc. (CAI) is seeing excellent follow-through from last Friday, when price popped all the way up to a high of $26.12. On Monday the stock gained $1.00, or 3.8%, to close at a three-year high of $26.93 on 427,600 shares traded. Analysts have dramatically increased earnings expectations for the transportation finance and logistics company in recent weeks, and earnings will be announced on Wednesday (July 26) after the close. The stock is being traded at some of the heaviest volume this year. Having already blown through significant resistance in the $25-$26 zone, price could easily reach $30 in the near term. The price channel shows that this could be a $40 stock or more in the longer term. (more…)
Medidata Solutions, Inc. (MDSO) climbed to a new all-time high of $73.15 on Monday, closing the session up $2.08, or 3%, to $72.76, on 455,600 shares traded. The cloud technology stock has been stair-stepping up a rising channel over the last few months and has popped $4.57 since Wednesday’s close. The next target is near the channel top at around $79-$80. Short interest of 7.9 times its average volume could fuel the move as shorts cover on a rally.
Mimecast Limited (MIME) popped another $1.10, or 4.25%, to $27.00, on 388,800 shares traded. The advance up came as the email security company’s CEO and CFO spoke at J.P. Morgan’s technology conference in Boston. Despite no dramatic increase in volume, the stock’s technicals look positive, climbing steadily since early March and holding support on the pullbacks. Watch for price to exceed last week’s all-time high of $27.25 to reach $30-31 in the short term.