Harry Boxer provides the best stock-breakout play from late last week.
Alpha Pro Tech, Ltd. (APT), which we’ve been watching for the last three weeks and has been in a very nice bullish consolidation, popped a coil on Thursday. It closed up $2.34 (13.7%) to $19.37, with a session high of $20.60, and its volume increased dramatically to 12 million shares traded. It’s right at resistance, and if it can get through $20.75, we could see mid-to-high $20’s.
DraftKings Inc. (DKNG) finally broke out of its recent multi-week pullback and through lateral resistance on Thursday. It jumped $3.08 (9.46%) to $35.64, with a session high of $36.11, on 18 million shares traded. There’s a little bit of resistance above here at $36.75. If it can get through that, we’re probably looking at $44.
K12 Inc. (LRN), a technology-based educational and training company, went vertical last week. This stock has literally gone from mid-June at $23 to a session high on Thursday of $48.75, with a move up of $4.84 (22.2%) to $47.94, on 7.7 million shares traded. This long-term overbought and short-term overbought, and long-term channel show, for at least the last seven months, that this stock is extended. If there is any follow-through, exit this stock at the $50 to $52 zone.
MicroVision, Inc. (MVIS) exploded as well popping 43¢ (23%) $2.33 with a session high of 2.47, on a 37.4 million shares traded. That was a huge move and it broke out of a coil. Targets going forward are $3.15 and $4.15.
Sonos, Inc. (SONO) broke out of a three-week consolidation on Thursday, with a pop of $1.63 (11%) to $16.36, after reaching a session high of $16.73, on a strong 14.3 million shares traded. If it can get through Thursday’s high, it looks like this stock might hit $21.
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