4 Momentum Stocks to Watch

Harry Boxer  |

Image: Activision Blizzard

Stocks in e-gaming, blockchain and other momentum areas are among our top charts to watch today.

Activision Blizzard, Inc. [ATVI] rose 54 cents to $55.45 on 10.9 million shares Thursday, more than 1 1/2 times its average volume. The move, on an analyst upgrade of the electronic gaming company, popped the stock to as high as $57.52 intraday, above lateral resistance, before it backed off. The stock, which is up from $45 in the last month, may be short-term extended and need to back and fill before making a run at the next target near the gap from last November at around $62.

InMode Ltd. [INMD] gained 50 cents to $27.34 Thursday on no news. However, the recent IPO and maker of products for aesthetic medical procedures recently had bullish coverage initiation by several Wall Street firms. The stock is in a bullish wedge formation, and a break through $28 could accelerate it to $32 next.

Lattice Semiconductor Corporation [LSCC] jumped 88 cents, or 4.3%, to $21.01 on no news. The stock, which has been in a beautiful rising channel since last November, up nearly four-fold, is now at the highest closing level in 18 years. Recently consolidating in a 6-week sideways channel, the stock looks poised to break its recent intraday high at $21.44 en route to the long-term channel top near $26.

Overstock.com, Inc. [OSTK] popped $3.96, or 17.4%, to $26.72 on 11.4 million shares, more than double its average volume. The move came on news that tZERO, a keiretsu company of OSTK's blockchain subsidiary, is partnering with entertainment financing company BLOQ FLIX to tokenize films. The stock, which is up from just under $15 in 10 days, broke above its early August high of $26.46. Watch for $32 next.


Equities Contributor: Harry Boxer

Source: Equities News

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