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Feb. 14, 2018, 11:18 a.m. EST

4 charts to watch as tech stocks rebound

In focus: CymaBay Therapeutics, Mimecast, Match Group and Twitter

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By Harry Boxer


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Earnings and other news are powering these four stocks, which have strong technical momentum.

CymaBay Therapeutics Inc. /zigman2/quotes/201917619/composite CBAY -5.48% reached a new all-time high of $13.79 Tuesday before ending the session up 10%, or $1.25, at $13.50 on very heavy volume of 2.6 million shares traded. The move broke the stock out a bull wedge consolidation, and came as the clinical-stage biopharma company, which focuses on developing therapies for liver and other chronic diseases, participated in an investors conference in New York. Next target: $16.

Mimecast Ltd. /zigman2/quotes/202578603/composite MIME +3.03% soared to a new record high of $35.05 intraday Tuesday before closing up $1.02 at $34.24 on extremely heavy volume of 1.3 million shares traded — more than four times average volume. On Monday the London-based data-security company reported earnings that topped Wall Street expectations, and on Tuesday it announced it has moved its North American headquarters to a larger office to accommodate rapid business growth. Next target: $38.

Just in time for Valentine’s Day, Match Group Inc. /zigman2/quotes/207178501/composite MTCH +0.12% shot up to a new all-time high of $39.60 Tuesday, gaining $1.61 on heavy volume of 3.5 million shares traded. The digital-dating company announced positive earnings results last week. Take heed that the stock’s run up is already extended, but momentum is very high and price could run into the low $40s in the near term. Short interest of more than 17 times its average volume could fuel the move as short-sellers cover on a rally.

Twitter Inc. /zigman2/quotes/203180645/composite TWTR -1.99% ran up 8% Tuesday, closing at $33.44 on heavy volume of 57.6 million shares traded. Price has held support above $30, above the gap formed last week by the explosive trade following the company’s strong earnings announcement. And not only that: Price support has held at the top of the prior price channel, which is very bullish. Next targets: $35 and $38.

See Harry’s video-chart analysis on these stocks.

The writer has no holdings in any securities mentioned.

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

/zigman2/quotes/201917619/composite
US : U.S.: Nasdaq
$ 3.71
-0.22 -5.48%
Volume: 2.66M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$255.21 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/202578603/composite
US : U.S.: Nasdaq
$ 41.78
+1.23 +3.03%
Volume: 1.11M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.63 billion
Rev. per Employee
$269,786
loading...
/zigman2/quotes/207178501/composite
US : U.S.: Nasdaq
$ 89.04
+0.11 +0.12%
Volume: 1.46M
May 29, 2020 4:00p
P/E Ratio
45.89
Dividend Yield
N/A
Market Cap
$25.30 billion
Rev. per Employee
$1.15M
loading...
/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 30.97
-0.63 -1.99%
Volume: 39.43M
May 29, 2020 3:59p
P/E Ratio
19.21
Dividend Yield
N/A
Market Cap
$24.30 billion
Rev. per Employee
$776,112
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Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

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