Here are three stocks that recently broke out on positive earnings, notes Harry Boxer. Harry will be presenting at the Las Vegas TradersEXPO this week. Live Stream his presentation on Identifying Winning Chart Patterns
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.
InMode Ltd. (INMD) is another of our charts to watch today, after rallying nearly 20% ($6.69) to $40.66 Tuesday on a strong earnings report. The move, on 3.3 million shares, or more than 3x its average volume, broke the stock above our $40 target noted in our article and video two weeks ago.
Watch for the stock in the maker of aesthetic medical products and recent IPO to reach the top of the rising channel in the $45 range.
Xerox Holdings Corporation (XRX) jumped $1.70 to $36.37 on 3.2 million shares Tuesday, more than 1.5x its average volume. The move followed recent news that the company is selling its 25% stakes Fuji Xerox, and also a Wall Street Journal report on Tuesday that Xerox is considering a takeover offer for PC maker HP Inc.
The stock recently broke out of a three-month consolidation and flagged for a few days before Tuesday's move. A breakthrough of the January 2018 intraday high near $37.50 could accelerate the stock into the mid-$40's.
See Harry's video chart analysis on these and 20 other top charts.
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Join Harry in Las Vegas at TradersEXPO this week for a Master Class on Day & Swing Trading. If you can’t be there in person, Live Stream his presentation on Identifying Winning Chart Patterns. Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.
