These 4 Charts Are Pointing Higher

Harry Boxer  |

Image: Enphase Energy

Here are four stocks that appear to be at or near a breakout point:

Enphase Energy, Inc.  (ENPH) jumped 88 cents to $17.07 on 4 million shares Tuesday. The supplier of solar microinverters announced it will participate in the annual Roth London Conference on June 18-19. The move, on 1 1/2 times its average volume, broke the stock through long-term lateral resistance. The rising channel off its September low below $4 points to a target in the high $20's.

Pieris Pharmaceuticals, Inc.  (PIRS) rose 10 cents to $4.19 on 533,700 shares Tuesday on no news. The biopharma stock recently broke out above its April and May double-tops near $4 and pulled back and flagged for two weeks testing support. Watch for a breakout of the flag to test recent highs in the $4.70 range next. A move through there could take it to subsequent resistance at around $5.50.

Qudian Inc.  (QD) gained 38 cents to $7.71 on heavy volume of 8.7 million shares Tuesday. The move came on no news from the provider of online consumer credit products in China. The stock recently pulled back from its April high near $8.80 to test rising channel support near $6, and has since formed a sideways wedge, which it broke out of on Tuesday. A move through resistance at around $7.75 could take the stock to the May highs near $8.50 next.

TAL Education Group  (TAL) popped $1.33 to $37 on 3.9 million shares Tuesday on no news from the China tutoring company. The stock recently held lateral and rising channel support in the $32-33 zone and bounced, with Tuesday's move breaking it out a wedge and through key lateral resistance at about $36.50. The next target is a retest of the May high at $39.50.

See Harry's video analysis of these stocks and others below:


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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