Slope of Hope Blog Posts
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Here are four stocks positioned right at key technical breakout points.
Horizon Therapeutics Public Limited Company (HZNP) climbed 92 cents to $28.20 on 2.3 million shares Tuesday, more than 1 1/2 times its average volume. The move, which came on no news from the drug maker targeting treatments for rare and rheumatic diseases, edged the stock out of a 2-month sideways channel. A break above the May high near $29.25 could get the stock to $32 next.
Seattle Genetics, Inc. (SGEN) rose 96 cents to $83.38 on 890,200 shares Tuesday. The move, on no news from the developer of cancer therapies, positioned the stock right at the declining tops line of its 2-week wedge pattern. A follow-through breaking out of the wedge could take the stock to $89.
By Harry Boxer, TheTechTrader
Medical stocks dominate today’s top charts to watch.
AbbVie Inc. (ABBV) climbed $1.72 to $73.85 on 6.2 million shares Thursday. The move came on no news from the maker of Humira and other drugs. The stock has been rallying for the last month, breaking out of a 1 1/2-year declining channel. However, it pulled back on Tuesday and Wednesday to test support before Thursday’s bounce. Watch for a move next to recent highs near $76.
Solar stocks rallied Tuesday amid instability over Mid-East oil, with two of them in our Charts of the Day video.
First Solar, Inc. (FSLR) jumped $2.38 to $65.82 on 1.5 million shares, or 1 1/2 times its average volume. The move, on no news, broke the stock out of a 6-week base pattern. Watch for a move next to retest the recent highs at $69-$70.
These three technology companies, plus a medical device stock, are showing strong technical momentum.
Lattice Semiconductor Corporation (LSCC) gained 53 cents to $19.73 on 1.8 million shares Thursday. The move, on no news and following through on Wednesday’s rally, positioned the stock at the top of its 5-week sideways channel. A break through this top near the intraday high at $20.42 could accelerate the stock towards $26.
These four stocks have strong technical momentum aligning with upbeat earnings.
Canadian Solar Inc. (CSIQ) rose $2.48 to $23.08 on 4.3 million shares Thursday, over 6x its average volume. The solar power company delivered a huge earnings surprise in its second-quarter financial release. A move through the spike high from early March at $25.89 could accelerate the stock towards $29.
These four technology and health-related stocks are looking strong technically.
Maxar Technologies Inc. (MAXR) jumped 84 cents, or 11.7%, to $8.01 on Wednesday on 3.8 million shares, or more than 1 1/2 times its average volume. The Canadian-American space company reported increased profits despite a decline in revenue. The move broke the stock above the month-long declining channel, positioning it right at lateral resistance. If it can get through $8.75, watch for a move next to $10-$10.50.
Here are four stocks in technology and solar energy that have broken out on earnings.
Enphase Energy, Inc. (ENPH) popped $6.50, or 30%, to $28.15 on 22.2 million shares Wednesday. On Tuesday the supplier of solar power micro inverters released favorable second quarter financial results. The stock has been rallying since starting the year under $5, and Wednesday’s move, on more than 5x its average volume, broke price out from the bottom of the rising channel through the top. Watch for an extension to next resistance near $32, using Wednesday’s low at around $26.25 as support.