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Trade Ideas: 4 Breakout Stocks to Watch

12/21/2017 1:21 pm EST

Focus: STOCKS

Harry Boxer

Author, The Technical Trader

Today Harry Boxer is watching BlackBerry, CymBay Therapeutics, ImmunoMedics and Kirkland Lake Gold. He’s the founder of TheTechTrader.com, a live trading room with his stock picks, technical analysis, and live charts.

Here are four stocks showing strong technical momentum.

BlackBerry Limited (BB) shot up out of a double-top pattern on Wednesday, closing up nearly 12% at $12.17 on 29 million shares traded.  That was the largest volume since the end of September, and more than 7x the stock’s daily average. The move came with the company’s positive earnings announcement and news on the transformation of its core business from communications hardware to cybersecurity solutions. Price has not been this high since January 2015. Next targets: $14 and $17.

BlackBerry is starting to look like the last company CEO John Chen turned around

CymaBay Therapeutics, Inc. (CBAY) launched out of a 36-day bull wedge consolidation, closing up 6.9% at $8.99 on heavy volume of 786,000 shares traded and no news. Analysts have voiced strong support this year for the company’s liver disease drug, now in clinical trials, based on its potential for market leadership. The stock has risen nearly 300% during 2017. If price can close above the October 30 high of $9.40, next targets are $11 and $14.

ImmunoMedics, Inc. (IMMU) gained 56 cents and closed at $14.02 on 3.4 million shares traded Wednesday. The stock broke out of a bull wedge consolidation pattern on December 7 on very high volume with news of positive clinical data from a study on its breast cancer drug. The stock has gained 260% in value during 2017, and the company expects FDA approval of the drug in 2018. If the stock closes above resistance at the October 2 high of $14.48, a move up toward $18 may not be far behind.

ImmunoMedics should be on your radar before phase 2 breast cancer data update.


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Kirkland Lake Gold Ltd. (KL) picked up 28 cents and closed at $14.58 on light volume of 508,400 shares traded. The company recently announced positive results from a mine exploration program in Australia that demonstrated high potential mineral deposits. This stock has gained 170% during 2017. Price has been consolidating in a multiple top pattern since October 9 and may be ready to break out. A close above $15 may energize price momentum up to $18-$19.
Why Kirkland Lake Gold is a Buy.

See Harry's video chart analysis on these stocks.

No holdings.

At TradersExpo, Harry Boxer on tech, energy, biotech, banks: I'm a big trader in biotech and semiconductors and the financial group, banks. One of my picks: Mazor Robotics.I picked Nvidia at $19. We picked Clayton Williams Energy. Video interview here. Duration: 3:02. Recorded Nov. 3.

At TradersExpo Las Vegas, Harry Boxer on intraday trading: I tell people what patterns are intraday, one-minute patterns.and potentially setting up for a move. When they do make that move, I put out a Buy alert. Video interview here. Duration: 3:18. Recorded Nov. 3.

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.