Slope of Hope Blog Posts
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Inogen, Inc. (INGN) has been up by as much as 20% today after releasing better-than-expected earnings and revenues. The medical technology company, which makes portable oxygen concentrators, is one of our top stocks to watch in our Charts of the Day video from last night.
The stock began breaking out of a 2-month base in mid-October, up from the $45 range, and, with Tuesday’s pop of $1.62 to $59.32 and after-hours move into the mid-$60’s, appeared poised to accelerate. Our target, as noted in the video, is the June high in $73-$75 range.
Here are three stocks on the move, two ahead of earnings and one following a better-than-expected release.
Digital Turbine, Inc. (APPS) climbed 19 cents to $6.98 on 1.6 million shares Wednesday. The move comes ahead of the expected November 4 earnings release by the company, whose software platform connects mobile operators and OEMs with mobile advertisers. The stock, which earlier this week broke out of a nearly 2-month declining wedge, tested lateral resistance intraday before backing off. A move through that $7.30-.35 resistance level could take it to our next target of $9.25.
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.