Today’s top charts to watch include a specialty retailer and an e-commerce company in addition to two drug makers, writes Harry Boxer. Join him at TradersExpo Chicago July 24 for two presentations.
Abercrombie & Fitch Co. (ANF) gained 79 cents to $26.36 on 1.3 million shares Tuesday on no news. The stock, which is in a 1-year up-channel, tested rising trend line support in early June and again recently. Tuesday’s move broke it out of a declining wedge, with the June high near $28.75 the next target, followed by the low $30s.
Arrowhead Pharmaceuticals, Inc. (ARWR) jumped 65 cents to $16.45 on 1 million shares traded Tuesday. The move came on no news from the developer of RNA interference drugs. The stock has been in a week-long flag after its breakout from another flag during what has been a steep ascent since early May. A move through Monday’s high near $16.75 could propel the stock to the channel top near $22.
Etsy, Inc. (ETSY) advanced $1.34 to $44.25 on 1.2 million shares Tuesday. The e-commerce company saw its shares pop in June on improved guidance and a roll out of its new user toolkit, and it has since been in a high-level consolidation. A break above recent highs at about $45.50 could accelerate the stock to $52-$53.
Zafgen, Inc. (ZFGN) rose 52 cents to $10.56 on 444,800 shares Tuesday. There was no news from the company, which develops therapies for patients suffering from metabolic diseases. Tuesday’s move broke the stock out of a mini flag that had followed its steep advance since late June. A break of recent highs near $11.25 could get the stock to $12.75 next.
See Harry's video chart analysis on these stocks.
No holdings.
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.
Watch brief video interviews with Harry Boxer at TradersExpo Las Vegas.
Harry Boxer on intraday trading.
Duration: 3:17.
Recorded: Nov. 21, 2018.
Harry Boxer on tech, energy, banks.
Duration: 3:01.
Recorded: Nov. 30, 2017.
