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4 Stocks Break Out On Earnings

Published 08/16/2019, 02:15 PM
Updated 07/09/2023, 06:31 AM

These four stocks have strong technical momentum aligning with upbeat earnings.

  • Canadian Solar Inc. (NASDAQ:CSIQ) rose $2.48 to $23.08 on 4.3 million shares Thursday, over 6x its average volume. The solar power company delivered a huge earnings surprise in its second-quarter financial release. A move through the spike high from early March at $25.89 could accelerate the stock towards $29.

  • HUYA Inc . (NYSE:HUYA) jumped $1.79 to $23.18 on 6.1 million shares, nearly 2 1/2 times its average. The China-based operator of game live-streaming platforms released better-than-expected second quarter results on Tuesday. The move broke the stock through the top of its declining channel. Watch for a test of lateral resistance in the $25.50-26 range short-term.
  • InMode Ltd . (NASDAQ:INMD) popped $2 to $18.25 on 1.9 million shares Thursday. The stock continued to rally following Tuesday's release of strong second-quarter results by the maker of medical aesthetic products. Since its recent IPO, the stock has had a series of pops and coils. Momentum from Thursday's jump could carry it to the $20-21 zone.
  • Zynex , Inc. (NASDAQ:ZYXI) advanced 66 cents to $9.82 on 393,300 share. The maker of medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics released strong second-quarter results at the start of the month, which boosted the stock. It has since pulled back and consolidated, though began to rally again this week. A break through resistance just above current levels could lead to $12 next.
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