Here are three health stocks and one technology stock that are at, or near, key breakout points.
Clovis Oncology Inc. CLVS, +4.83% popped 90 cents, or more than 10%, to $9.73 on 11.7 million shares traded Wednesday on no news released by the company. The move edged the stock out of a declining wedge pattern it’s been in since its December top. A break through moving-average resistance near $10.45 and then the recent double-top at $11.15-.25 could lead the stock to $13 next.
3D Systems Corp. DDD, -2.07% climbed 63 cents, or 5.3%, to $12.34 on 2.9 million shares traded Wednesday. On Monday, the company announced an expanded relationship with Sanmina to manufacture certain plastic 3D-printing platforms. Wednesday’s move broke the stock out of a month-long wedge formation, and next resistance for the stock, which has nearly doubled in five months, is at $14.25.
Fulgent Genetics Inc. FLGT, -0.65% jumped $1.52, or 10.9%, to $15.42 on 458,900 shares traded Wednesday. The move, which came on no news from the genetic-testing-services company, broke the stock out of a three-month coil. If it can get through lateral resistance right near here in the $15.50 zone, the near-term target is the $16.50 high from November, with the mid-channel target at $18.50.
Mallinckrodt plc MNK, -0.97% gained 31 cents, or 6.4%, to $5.14 on 6.1 million shares traded Wednesday on no news from the specialty-pharmaceutical company. The stock, which broke out of a base in January and had an orderly pullback from resistance on lower volume, has been picking up in the past two sessions, and looking poised to retest the highs. Initial target is $7.
See Harry’s video-chart analysis on these stocks.
The writer has no holdings in any securities mentioned.
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis and live chart presentations.