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Stock Breakouts to Watch

06/22/2020 6:00 am EST

Focus: STOCKS

Harry Boxer

Author, TheTechTrader.com

Several stocks broke out on increased volume late last week, indicating further gains, reports Harry Boxer. 

The following stocks had impressive moves Thursday that should lead to further gains. 

Apache Corporation (APA), in the oil sector, is still hanging in there. On Thursday, it popped 33¢ (2.38%) to $14.22, after reaching a session high of $14.46, on 9.6 million shares traded. It rallied an additional 7¢ after-hours. It almost filled the gap, got up to the low in December, backed off, and formed a wedge as well. If it can hold this without breaking down, I would like to see it, first take out the high around $15.50, which t would signal a move much higher. A move above $15. 50 will get it to $18. If it crosses $18, then we’re looking at $20, maybe $25.

Ballard Power Systems Inc. (BLDP) on Thursday gained 35¢ (2.56%) to $14.00, just 2¢ off the session high on 1.95 million shares traded. This stock is on its way. After the big hit in March, it has done nothing but moved up, for the most part. It is three waves up and might consolidate. I don’t have a problem with it coming back to $12, but if it does get to $14.75, then $16 and $18 are targets.

Cloudera, Inc. (CLDR) is really looking well. After breaking through a double-top, it stalled for a couple of days, and on Thursday, it popped $1.07 (8.5%) to $13.71, with a multi-week and session high of $13.93, on 21.3 million shares traded. It rallied another 21¢ after-hours. The highest level for CLDR more than a year ago was $11.65. There’s a double-top at $15.50. That’s the first target and the second target $18.

Neoleukin Therapeutics, Inc. (NLTX) popped $1.76 (13%) to $15.28, with a new multi-week and session high of $15.42 on 648,415 shares traded. This is the highest level going back two and a half years. Although there is some resistance at $17.50, which is my next target, eventually it will go much higher.

Vapotherm, Inc. (VAPO) is a beautiful chart. It broke out, pulled back in a wedge, and then broke out and ran again on Thursday, jumping $2.18 (6%) to $38.05, with a late afternoon multi-week and session high of $38.68 on 776,676 shares traded. It rallied to $39 after hours and has a target in the high 40’s going forward.

Wrap Technologies, Inc. (WRTC) exploded on Thursday, ripping $1.27 (15%) to $9.69, with a near-closing session high of $9.78 on 3.1 million shares traded. If it pops and gaps here, it may run quickly to $14.

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.  Try Harry's Live Trading Room Free for 15 Days (no credit card required for first-time registrations). See our video chart analysis on these & 20 more top charts to watch!

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