It was another good day on Wall Street on Tuesday. The market was mixed, but a lot of the stocks we follow did well, particularly some of the low-priced stocks that had a difficult day on Monday, but snapped back nicely on Tuesday. For now, let’s take a look at some of the momentum stocks that we’re playing.
Cyberark Software Ltd (NASDAQ:CYBR) appears to have broken out on Tuesday. The highs were taken out with little gaps and a run, and closed at the highs for the day, up 3.73 to 66.37, or 6%, on 2.7 million shares. Action is strong. The channel should be testing 70-70 1/2 range, which is the near-term target. Secondary target is 75.
Fireeye Inc (NASDAQ:FEYE), another one of the cyber-security stocks we follow, and a swing trade of ours, popped 1.06 to 43.49, or 2.5%, 7.1 million shares. That's the biggest volume in about a week. It started out great, got all the way up to new rally highs, took out resistance, and got up to 44 1/2, but backed off a point to close at 43.49, giving back about half its gains. Look for this to move up. Resistance is at 46 1/2, the next target, and then 51.
Fortinet Inc (NASDAQ:FTNT) is yet another stock in the cyber-security group that is acting well. It opened at 38, backed off to 37.23, and closed at 38.08, up 2.45, or 10%, on 9.7 million shares. That’s strong volume, taking it out across the top of the channel. At this point, this stock may extend. Look for it to head up towards the 40-42 zone.
Infinera Corporation (NASDAQ:INFN) has formed a nice little wedge. On Tuesday, it was up just 27 cents, but after hours it came down on the earnings report, and then exploded from 18.40, going all the way up to 21.20, and then closed back at 20.53, up another 30 cents in afterhours. Net-net, it looks like it wants to get up and challenge the highs at the 20.55-.60 zone, which could lead to 23 next.
Other stocks on Harry’s Charts of the Day includedAdvaxis Inc (NASDAQ:ADXS), Asterias Biotherapeutics, Inc. (AST), Capnia Inc (NASDAQ:CAPN), Cara Therapeutic (NASDAQ:CARA), Esperion Th (NASDAQ:ESPR), Gogo Inc (NASDAQ:GOGO) Merrimack Pharmaceuticals Inc (NASDAQ:MACK), Mobileye Nv (NYSE:MBLY), Qunar Cymn Islnd (NASDAQ:QUNR), Sucampo Pharmaceuticals Inc (NASDAQ:SCMP), Therapeutic (AMEX:TXMD), and Voltari Corporation (VLTC).