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3 Stocks in Healthcare & Technology to Watch
11/14/2019 11:48 am EST
These three health and technology sector stocks are on the move and pointing higher, writes Harry Boxer.
AMD, Amarin and CRISPR among top stock displaying a potential technical breakout from earlier in the week.
Advanced Micro Devices, Inc. (AMD), one of our swing trade picks from two weeks ago when it was at $33.60, jumped 81¢ to $37.52 on 67 million shares Wednesday. On Tuesday, the chip maker announced Tencent will use its latest server processors. The stock has been in a steep rising channel since its recent low below $28 in early October. Next target is the rising channel top near $40.
Amarin Corporation Plc. (AMRN) followed through on Wednesday, up 55¢ to $21.49 after popping 23% on Tuesday. An FDA advisory committee is scheduled to meet today to help decide the fate of the company’s fish-derived cardiovascular drug. While trading has been halted in advance of the meeting, the chart points to a test of the July high in the $23.50-$24 zone.
CRISPR Therapeutics AG (CRSP) rose $1.42 to $55 on 1 million shares Wednesday. The move, on no news, continued the gene editing's stock's month-long rally from the mid-$36 level. It also followed through on Tuesday's breakout of a mini wedge. Watch for a move to $58 next.
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.
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