Technical expert Serge Berger provided three big technical ideas this Thursday.
Alibaba Group
Shares of Alibaba Group Holding Ltd BABA rose almost 4 percent over Wednesday's trading, and Berger said this move “also pushed BABA stock back above a resistance trendline from February.”
He added: “if the stock can overcome the $86-$87 area, it would accomplish a higher high versus a recent high (in this case the March highs) for the first time in many months.”
Sodastream International
Sodastream International Ltd SODA's stock has surged more than 6 percent since Monday and, on Wednesday, broke to fresh multi-month highs.
Berger explains that, “if momentum can persist, this one looks to be ready for a move toward $22.50 or so.”
Pandora Media
Finally, there’s Pandora Media Inc P also on the move.
“Very much like SODA and BABA, P is showing strength here after being beaten down for many months. Look at the move on Wednesday how it broke the stock above its 100-day moving average for the first time since last September. "
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