Four Stocks to Watch on Technical Momentum

By -

Earnings news and strong technical momentum are powering these four stocks.

HTG Molecular Diagnostics, Inc. (HTGM) jumped 10.6%, or 43 cents, closing at $4.48 on very heavy volume of 3.4 million shares traded. The move came as the company, which provides instruments, reagents and services for molecular profiling applications, presented at an industry conference. This stock has great price action. It exploded up to $4.69 on Monday, then fell to $3.82 on Tuesday before bouncing back up again to close at its high for the day. If price moves beyond $4.70, a move up to $5.30 may come very quickly.

Mimecast Limited (MIME) soared to a new all-time high of $35.05 intraday before closing up $1.02 at $34.24 on extremely heavy volume of 1.3 million shares traded — more than four times its average volume.  On Monday the London-based data security company reported earnings that topped Wall Street expectations, and on Tuesday it announced it has moved its North American headquarters to a larger office to accommodate rapid business growth. Next target: $38.

Just in time for Valentine’s Day, Match Group, Inc. (MTCH) shot up to a new all-time high of $39.60, gaining $1.61 for the day on heavy volume of 3.5 million shares traded. The digital dating company announced positive earnings results last week. Take heed that the stock’s run up is already extended, but momentum is very high and price could run into the low $40s in the near term. Short interest of more than 17 times its average volume could fuel the move as short-sellers cover on a rally.

Twitter, Inc. (TWTR) ran up 8%, closing at $33.44 on heavy volume of 57.6 million shares traded. Price has held support above $30, above the gap formed last week by the explosive trade following the company’s strong earnings announcement. And not only that: Price support has held at the top of the prior price channel, which is very bullish. Next targets: $35 and $38.