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Jan. 23, 2020, 2:23 p.m. EST

Stocks breaking out include Neoleukin Therapeutics and XPEL

Harry Boxer reviews three stocks that have pushed through technical resistance

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By Harry Boxer


Bloomberg News/Landov

Here are three stocks that have broken above resistance and may rise higher.

Neoleukin Therapeutics Inc. /zigman2/quotes/206057284/composite NLTX -1.03% edged up 27 cents to $11.38 on average volume of 555,100 shares traded Wednesday. The move, on no news from the biopharmaceutical company, extended the stock’s rally to five days in a row. The rally has seen the stock bounce off support and break above its declining tops line and lateral resistance. Watch for a retest of the spike high from Dec. 23 at $13.43.

Sea Ltd. /zigman2/quotes/202797958/composite SE +2.54% jumped $3.05 to $44.36 on 10.4 million shares traded Wednesday, about 2 1/2 times its average volume. Goldman Sachs initiated coverage of the Singapore-based digital entertainment and services company with a “conviction buy” rating. The move popped the stock out of a gradually ascending channel it’s been in since its gap up in November. Watch for $47 next, followed by $52.

XPEL Inc. /zigman2/quotes/200201526/composite XPEL +2.42% climbed 96 cents on 924,000 shares traded, about five times its average volume. The move, on no news from the auto parts company, broke the stock out of a two-month coil. The angle of ascent of the eight-month rising channel points to $21-$22.

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/206057284/composite
US : U.S.: Nasdaq
$ 10.60
-0.11 -1.03%
Volume: 226,476
Feb. 20, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$515.40 million
Rev. per Employee
$3.13M
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/zigman2/quotes/202797958/composite
US : U.S.: NYSE
$ 52.50
+1.30 +2.54%
Volume: 9.31M
Feb. 20, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$16.33 billion
Rev. per Employee
$36,605
loading...
/zigman2/quotes/200201526/composite
US : U.S.: Nasdaq
$ 15.21
+0.36 +2.42%
Volume: 162,016
Feb. 20, 2020 4:00p
P/E Ratio
36.86
Dividend Yield
N/A
Market Cap
$419.99 million
Rev. per Employee
N/A
loading...

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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