Market Overview

3 Momentum Stocks To Watch Post-Earnings

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3 Momentum Stocks To Watch Post-Earnings

Here are three stocks with continued technical momentum in the days and weeks after strong earnings releases.

Clovis Oncology, Inc. (NASDAQ: CLVS) jumped 75 cents to $7.76 on 8.1 million shares Thursday. The move continued the stock's run-up following the biotech company's better-than-expected earnings release two weeks ago.  The stock closed right above lateral resistance, and next target is the rising channel top near $9-9.25.

Luckin Coffee Inc. ADR (NASDAQ: LK) popped $1.65 to $27.95 on 14.4 million shares Thursday, more than 3x its average volume.  Shares in the China-based company have been running since its November 13 quarterly financial release that topped analyst estimates.  The stock in recent days pulled back from its high, before Thursday's move. A break back above Tuesday's intraday high of $28.85 could get this to $30-$32 next.

Luna Innovations Incorporated (NASDAQ: LUNA) climbed 20 cents to $7.13 on 636,300 shares Thursday. The move, on nearly double the average volume, came on no news from the fiber optic-based technology company, though the stock has been climbing (now up about 20%) since the company's November 5 earnings release.  The stock made a new all-time high at $7.40 intraday Thursday, with the rising channel top pointing to above $8.

Incidentally, we put out a swing trade alert on LUNA for our members when it was at $4.74 on July 10, with a target of $7.50 and a stop at $3.88 (which the stock has remained above).

See Harry's video chart analysis on these and 14 other top charts.

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

Posted-In: Stocks To WatchEarnings News Commodities Global Intraday Update Markets General

 

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