4 Momentum Stocks to Watch

Harry Boxer  |

Image: Kirkland Lake Gold

These four stocks in the high-momentum technology, biotech and mining areas are on the move.

Kirkland Lake Gold Ltd.  (KL) gained $1.31 to $37.69 on 2.7 million shares Tuesday on no news from the gold mining company. The stock is in a beautiful long-term up-channel from the $5 range in January 2017. After a 3-month sideways formation, the stock has rallied in recent sessions, with Tuesday's move taking out resistance from the Feb 28 high at $36.74. Watch for the mid-$40's next.

Advanced Micro Devices, Inc.  (AMD) leapt $1.99 to $29.57 on 107 million shares Tuesday. On Monday the chipmaker announced a deal to license its custom graphics intellectual property (IP) to Samsung for use in mobile devices. The stock has broken out of a 2-month sideways channel, and any move across the $29.75 range could get this into the mid-$30's.

uniQure N.V.  (QURE) jumped $6.10, or 9.4%, to $70.74 on 2.5 million shares Tuesday. The move, on nearly 5x the stock's average volume, came on no news from the gene therapy company. The stock, which had a steep ascent from around $28 to just under $70 in the first three months of the year, looks poised to resume the uptrend, as Tuesday's move broke it out above the March double-top. Watch for $80-85 next.

Snap Inc.  (SNAP) popped $1.26 to $12.95 on 53.3 million shares Tuesday. The move came on no news from the Snapshot parent company. The stock had been in a 2-month consolidation after rallying sharply to start the year. The move broke the stock out of this consolidation zone and the highs from April, with the next target at around $14.

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 author has no holdings in any companies mentioned.


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
AMD Advanced Micro Devices Inc. 32.85 0.34 1.05 37,698,102 Trade
QURE uniQure N.V. 70.92 -1.45 -2.00 563,113 Trade
SNAP Snap Inc. Class A 14.15 0.13 0.93 26,586,874 Trade
KL Kirkland Lake Gold Ltd. 46.23 -0.25 -0.54 1,101,212 Trade

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Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     

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