Here are four stocks with strong technical momentum moving higher on news.
Aphria Inc. (APHA) gained 44 cents to $10.15 Wednesday on 7.8 million shares. Last Friday the Canadian cannabis producer said a probe of acquisitions in Latin America found certain board members had conflicts, but that the price paid was comparable to rival deals. The stock, which had pulled back from resistance at the top of its rising channel, has since bounced off the channel bottom towards a retest of its early February high. A move through that high near $11 could accelerate the stock towards $14.
Everbridge, Inc. (EVBG) rallied $3.69 to $67.95 on Wednesday on 1.4 million shares, more than triple its average volume. The software developer reported better-than-expected quarterly financial results on Tuesday. The stock got as high as $71.61 intraday. The long-term chart shows the top of the channel extends to the low-$80’s.
Freeport-McMoRan Inc. (FCX) jumped 26 cents to $13.35 on Wednesday on 36.1 million shares, more than triple its average volume. The mining stock was upgraded earlier this week by Citigroup. It reached $13.86 intraday, edging above lateral resistance before pulling back. Now up about 30% this year, the stock, after backing and filling a bit, could continue to $15.
Lattice Semiconductor Corporation (LSCC) rose 52 cents to $11.75 Wednesday on 3.3 million shares. The stock, which has surged since releasing earnings a week ago, is now at the highest level going back 15 years. Watch for an extension to the $14.50 area.
