2 Chipmakers Among Our Breakout Charts to Watch

Harry Boxer  |

Here are four stocks, two of them chipmakers, that are moving on news and technical momentum.

Advanced Micro Devices, Inc. ( (AMD)) jumped $1.11 to $33.15 on 61.2 million shares Tuesday. An analyst raised his target price on the stock as the company received favorable reviews this week for its latest PC chip and said some new products would be available worldwide. The move, on nearly 3x its average volume, broke the stock above lateral resistance. If it gets through the double-top near $34.25, our next target is close to $40.

Grayscale Bitcoin Trust ( (GBTC)) rose 62 cents to $16.35 on 7.4 million shares Tuesday. The stock, which has surged from below $4 in February, recently pulled back but bounced off rising trend-line support. The up-move doesn't look done yet, and the rising channel points to $20-$21 next.

Lattice Semiconductor Corporation ( (LSCC)) gained 36 cents to $15.38 on 2.6 million shares. The chipmaker announced it will hold its second quarter 2019 conference call on Tuesday, July 30. The move, on 1 1/2 times its average volume, edged the stock above a quadruple top. The steeply rising channel from November's low under $6 points to $17.50 and $20 as next targets.

Overstock.com, Inc. ( (OSTK)) popped 51 cents to $17.15 on 18.9 million shares, more than 6x its average volume. The online retailer's cryptocurrency unit, tZERO, said it will tokenize a forthcoming major motion picture release. OSTK has rallied from just above $9 in the last month, and may be due for some consolidation before making a move towards next lateral resistance at around $20.75.

I have no holdings in any of these stocks.

Please see my video analysis below on these and other stocks.

Equities Contributor: Harry Boxer

Source: Equities News

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