4 Momentum Stocks to Watch

Harry Boxer  |

SourcSource: Immunogen

These four stocks are moving on news and gaining technical momentum.

Axsome Therapeutics, Inc. jumped $8.60 to $89.57 on 2.6 million shares Wednesday, more than double its average volume. On Monday the biotech company said its experimental treatment for depression met the primary endpoint in a Phase 3 clinical trial. The move popped the stock through the top of an already steep channel rising from the $20 level just two months ago. Watch for $106 next.

Bed Bath & Beyond Inc. gained 84 cents to $17.72 on 10.5 million shares Wednesday. The move followed news of a restructuring in which six senior leaders are leaving the specialty retailer. The stock has been stair-stepping up its rising channel since its mid-August low at $7.31, and the channel top now points to a target of $20-$20.50.

ImmunoGen, Inc. climbed 35 cents to $4.97 on 7.5 million shares Wednesday, more than triple its average volume. On Tuesday the biotech company announced the FDA cleared a trial that could support accelerated approval for its investigational ovarian cancer drug. That news propelled a move that popped the stock out of a falling wedge and through channel and lateral resistance. The next target is $6.

comScore, Inc. rose 29 cents to $5.19 on 1.2 million shares Wednesday. On Tuesday the company announced an agreement to provide Publishers Clearing House with digital audience measurement. The stock has risen sharply from below $2 two months ago, and the channel top points to a target of $7.25.

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

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Equities Contributor: Harry Boxer

Source: Equities News

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. The author of this article, or a firm that employs the author, is a holder of the following securities mentioned in this article : None

Companies

Symbol Name Price Change % Volume
BBBY Bed Bath & Beyond Inc. 15.39 0.03 0.20 4,152,150 Trade
IMGN ImmunoGen Inc. 4.56 -0.27 -5.59 1,689,080 Trade
SCOR comScore Inc. 5.18 -0.07 -1.33 438,305 Trade
AXSM Axsome Therapeutics Inc. 90.34 -2.14 -2.31 469,403 Trade

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AAPL

     
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IBM

     
BA

     
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DIS

     
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FB

     
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T

     
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V

     
UNH

     
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