Market Overview

4 Momentum Stocks To Watch

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4 Momentum Stocks To Watch

These four stocks in the high-momentum technology, biotech and mining areas are on the move:

Advanced Micro Devices, Inc. (NASDAQ: AMD) leapt $1.99 to $29.57 on 107 million shares Tuesday. On Monday, the chipmaker announced a deal to license its custom graphics intellectual property (IP) to Samsung for use in mobile devices. The stock has broken out of a two-month sideways channel, and any move across the $29.75 range could get this into the mid-$30's.

Kirkland Lake Gold Ltd. (NYSE: KL) gained $1.31 to $37.69 on 2.7 million shares Tuesday on no news from the gold mining company. The stock is in a beautiful long-term up-channel from the $5 range in January 2017. After a three-month sideways formation, the stock has rallied in recent sessions, with Tuesday's move taking out resistance from the Feb 28 high at $36.74. Watch for the mid-$40's next.

uniQure N.V. (NASDAQ: QURE) jumped $6.10, or 9.4%, to $70.74 on 2.5 million shares Tuesday. The move, on nearly 5x the stock's average volume, came on no news from the gene therapy company. The stock, which had a steep ascent from around $28 to just under $70 in the first three months of the year, looks poised to resume the uptrend, as Tuesday's move broke it out above the March double-top.  Watch for $80-85 next.

Snap Inc. (NYSE: SNAP) popped $1.26 to $12.95 on 53.3 million shares Tuesday. The move came on no news from the Snapshot parent company. The stock had been in a 2-month consolidation after rallying sharply to start the year. The move broke the stock out of this consolidation zone and the highs from April, with the next target at around $14. 

See Harry's video chart analysis on these stocks.

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

Image sourced from Pixabay

 

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