Join Harry Boxer LIVE at The MoneyShow Las Vegas!

Join Harry Boxer LIVE at The MoneyShow Las Vegas!

4 Stocks Moving on Both News & Technicals

05/17/2017 2:55 am EST


Harry Boxer

Author, The Technical Trader

Trade ideas from Harry Boxer include AKBA, AKAO, MLCO, QRVO. He is founder of, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

Akebia Therapeutics, Inc. (AKBA) had a big day on Tuesday (May 16), popping $2.11, or 16%, to $15.01, on 6.6 million shares traded. That’s nearly 8 times its average volume. The move came on news that Vifor Pharma will make a $50 million investment in Akebia as part of a partnership agreement. If price holds Tuesday’s intraday low of $14.68 and starts to move up again, it could accelerate into the $17-$19 range.

Achaogen, Inc. (AKAO) rose on Tuesday by $1.56, or 7%, to $25.33, on 526,500 shares traded on no news. Stock in the biopharmaceutical has been consolidating since mid-March. If the stock begins to see a breakout of the $26-$27.75 range on stronger volume, price could climb towards the channel top in the high $30s. Short interest of 6.4 times its average volume could fuel the move as shorts cover on a rally.

Melco Resorts & Entertainment L (MLCO) rose by 53 cents, or 2.39%, to $22.68, on 10.3 million shares traded, reaching $22.94 intraday. Recent price strength has followed news of the company’s debt financing plans. The upper trendlines of the rising 10-month channel and steeper 2-month channel meet just above here in the $23.50-24 zone, a move through which could lead to the $25-$26 range, followed by $28.

Qorvo, Inc. (QRVO) gained another $3.30, or 4.6%, rising to $74.84, on 3.1 million shares traded Tuesday. Stock in the Apple supplier exploded in the last week, going from under $66 to Tuesday’s high at $74.92 on news that hedge fund Baupost Group had taken a nearly $500 million investment in the company. The stock has held support on numerous occasions since early February, and Tuesday’s move broke it above a lateral resistance zone from recent tops. Watch for a move next to the channel top near $77-78, followed potentially by the high $80s.

See Harry's video chart analysis on these stocks.

Subscribe to The Tech Trader here...


  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STOCKS

Keyword Image
Recession Fears Overstated
11 hours ago

While the yield curve recently inverted, there are no clear sign of an imminent recession, notes sen...