4 Stocks Breaking Out on Earnings

Harry Boxer  |

Click to enlarge

Image: EnPhase Energy

Here are four stocks in technology and solar energy that have broken out on earnings.

Enphase Energy, Inc. ( (ENPH)) popped $6.50, or 30%, to $28.15 on 22.2 million shares Wednesday. On Tuesday the supplier of solar power microinverters released favorable second quarter financial results. The stock has been rallying since starting the year under $5, and Wednesday's move, on more than 5x its average volume, broke price out from the bottom of the rising channel through the top. Watch for an extension to next resistance near $32, using Wednesday's low at around $26.25 as support.

Lattice Semiconductor Corporation ( (LSCC)) jumped $2.97 to $19.34 on 12.2 million shares, more than6x its average volume. The programmable chipmaker beat Wall Street estimates in its second-quarter earnings release. Wednesday's move broke the stock out of a mini flag within its rising channel off the November low under $6. The channel top points to a target of $25 on an extension of this move.

NCR Corporation ( (NCR)) rose $1.36 to $33.81 on 1.9 million shares, more than double its average volume. The software and services provider and ATM manufacturer reported better-than-expected second quarter results. Wednesday's move, the 8th consecutive up-session, broke the stock out of a nearly 3-month consolidation after its pop in May. Target is $38 with support at $33.

Among small caps, MagnaChip Semiconductor Corporation gained 45 cents to $11.05 on 1 million shares Wednesday following the release of quarterly results that beat analyst estimates. The move, on more than 3x its average volume, continued the stock's rally off its February low under $6. The stock got as high as $12 intraday, and looks poised to test its quadruple top up around $13.25 next.

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

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
LSCC Lattice Semiconductor Corporation 19.36 -0.19 -0.97 823,939 Trade
MX MagnaChip Semiconductor Corporation 11.95 0.21 1.79 303,081 Trade
NCR NCR Corporation 29.98 -0.25 -0.83 913,489 Trade
ENPH Enphase Energy Inc. 24.75 -0.35 -1.39 3,123,994 Trade

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     

Can the Media Solve the Partisan Conflict?

Andrew McCarthy, Contributing Editor, The National Review; Michael Zeldin, CNN Legal Analyst; Celeste Katz, Senior Political Reporter, Glamour; Silvia Davi, SVP, Contributing Editor, Equities.com; and Doug Simon, CEO, D S Simon Media discuss how the media’s role has shaped the landscape for communicators and what the media is trying to do to reduce discord in society.