3 Stocks on the Move

Harry Boxer  |

Three stocks that had been digesting recent gains now appear to be on the rise again.

ArQule, Inc.  (ARQL) gained 42 cents to $7.17 on 2.6 million shares Tuesday. The move, on more than 1/2 times its average volume, came on no news from the biopharmaceutical company. The stock broke out of a month-long wedge pattern last week and backed off before Tuesday's move. It edged above resistance at the July high of $7.21 intraday. A follow-through could get it to $8.50 next.

Qudian Inc.  (QD) jumped 95 cents to $7.09 on 10.9 million shares Tuesday, or 1 1/2 times its average volume. The move followed Monday's earning release by the China-based provider of online small consumer credit products. The stock had been in a down-channel off its May 2 high at $8.51, but Tuesday's move broke it out above the declining tops line. Watch for a test of that $8.51 high next.

Roku, Inc.  (ROKU) popped $4.30 to $87.63 on 10.9 million shares Tuesday on no news from the streaming TV company. The stock gapped up by about a third on May 9 on strong earnings, and has been flagging since. Tuesday's move edged the stock above the top of the pennant, as the stock had its highest close ever. The long-term rising channel points to a target in the high-$90's

See Harry's video chart analysis on these stocks.

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.


DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
ARQL ArQule Inc. 9.58 1.38 16.83 23,622,622 Trade
ROKU Roku Inc. 103.84 1.82 1.78 5,528,267 Trade
QD Qudian Inc. American Depositary Shares each representing one Class A 7.18 -0.12 -1.64 1,580,253 Trade

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