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4 Momentum Stocks Look Higher

Published 03/21/2018, 01:08 PM
Updated 07/09/2023, 06:31 AM
  1. HealthEquity, Inc. (NASDAQ:HQY) soared 11% to a new all-time high Tuesday, closing up $6.64 at $64.54 on extremely heavy volume of 2.8 million shares traded -- more than four times its average volume. The move came with a positive earnings announcement and 2019 outlook from the healthcare account management company. The long-term rising trendline points to a next target of $69.
  2. Nektar Therapeutics (NASDAQ:NKTR) rose $2.19 to close at $107.20 on 3.4 million shares traded Tuesday. Early this month the stock popped on earnings, and has since formed a beautiful bull wedge. On Monday the stock, which has risen 5-fold in the last 12 months, was added to the S&P 500 Index. A breakout above the previous high at $111.36 could send this stock into the mid-$120s.
  3. Square, Inc. (NYSE:SQ) popped 5.7% to a new all-time high of $58.07 intraday Tuesday before closing at $57.69, up $3.11 on heavy volume of 17.2 million shares. Last week a report by Nomura Instinet compared the stock to the early days of Amazon.com (NASDAQ:AMZN), citing the company's push into, and further opportunties in, cryptocurrencies. Year to date the stock is up 66%. There may resistance at the $60 level, but if it breaks through there, price could reach $65.
  4. Upland Software, Inc. (NASDAQ:UPLD) broke out of a bull flag consolidation and moved up 82 cents to close at $29.71 on 247,100 shares traded and no news from the company. The enterprise management software company announced a positive earnings surprise on March 8, and its stock price is up 30% in the last month. With a close above the prior high at $30.44, the next target is $36.
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