These Medical Stocks Are Showing Healthy Momentum

Harry Boxer  |

Image: AbbVie Inc.

Medical stocks dominate today's top charts to watch.

AbbVie Inc.(ABBV)] climbed $1.72 to $73.85 on 6.2 million shares Thursday. The move came on no news from the maker of Humira and other drugs. The stock has been rallying for the last month, breaking out of a 1 1/2-year declining channel. However, it pulled back on Tuesday and Wednesday to test support before Thursday's bounce. Watch for a move next to recent highs near $76.

Arrowhead Pharmaceuticals, Inc.(ARWR)] jumped $1.00 to $29.92 on 883,800 shares Thursday. The move, on no news, continued the stock's breakout of a 1-month falling wedge. The stock needs to get above $31.50 to confirm the continuation of the uptrend, beyond which it could make a run at the recent high near $37.

Zynex, Inc. popped $1.02, or 9.4%, to $11.80 on 1 million shares Thursday, over 3x its average volume. On Wednesday, the maker of electrotherapy medical devices announced 95% year over year order growth for the third quarter 2019. The move followed Wednesday's breakout of a 2-month coil that also closed the stock above its June all-time high. Watch for $14 next.

Our lone non-medical stock today, Turtle Beach Corporation, gained 39 cents to $10.89 on 406,800 shares Thursday. The company announced the availability of a new gaming headset audio enhancer. The move bounced the stock off its 21-day moving average, as it continues to build a multi-month base that could be setting up for a breakout. Watch for a test next of the $12-12.50 range.

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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
ABBV AbbVie Inc. 88.63 1.00 1.14 8,041,385 Trade
HEAR Turtle Beach Corporation 8.67 -0.16 -1.81 455,090 Trade
ARWR Arrowhead Pharmaceuticals Inc. 47.44 -1.06 -2.19 2,376,157 Trade
ZYXI Zynex Inc. 9.26 0.05 0.54 162,604 Trade

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