Market Overview

9 Potential Breakout Setups To Watch

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Nuance Communications Inc. (NASDAQ: NUAN) is poised to break this triangle formation. On the upside, it may lead toward 14.60 levels and a breach of this area could force it up toward 15.01 levels. On the other hand, any dip below 14 levels could direct it toward 13.75 levels.

The technical daily indicators are looking bullish.

The MACD indicator is above the signal line and rising in positive territory.

The RSI and slow stochastic are inside their bullish regions.

King Digital Entertainment PLC (NYSE: KING): The potential inverted head and shoulders pattern is still valid on daily chart, but traders need a breach of the neckline near 16.45/51 area to confirm.

Twitter Inc (NYSE: TWTR) has been consolidating after a mid-March surge from around 46 to 51.87 in 5 sessions. The stock is in a bullish flag/channel with price above all moving averages. MACD and RSI are both trending upward on the daily chart. 

Arca Biopharma Inc (NASDAQ: ABIO) pulled back on Thursday but did not attract many sellers; the volume was significantly low when compared to the rally seen the day before on Wednesday. From a technical stanpoint, the stock seems to be forming a Bullish inverted Head and Shoulders pattern with the neckline near the DT line.

Additionally it has an up-trending MACD, indicating accumulation; the accumulation/distribution line also spiked higher on Wednesday.

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) had a remarkable rally Thursday on solid volume. Watch this downtrend line carefully here.

JD.Com Inc (NASDAQ: JD): Technical daily chart looks pretty good. Accumulation continues to trend higher despite recent pullback.

NetApp Inc. (NASDAQ: NTAP): After getting punished lower in the past four months, the price has been stabilizing and starting to build optimism along with the RSI giving positive signals.

On the daily time frame, the long-term chart for Rambus Inc. (NASDAQ: RMBS) is worth watching, particularly the potential "W" bottom, with the Accumulation/ Distribution line making new highs. This suggests that the stock has been accumulated for the last three months.

VirnetX Holding Corporation (NYSE: VHC) stock showed buying strength all day on Thursday and has regained the 100-day exponential moving average for the first time in over three weeks. Watch closely if it breaks Thursday's high next week.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: technical Technical breakout candidatesTechnicals Previews Trading Ideas

 

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