By Harry Boxer
Here are four stocks in technology and solar energy that have broken out on earnings.
Enphase Energy /zigman2/quotes/207948472/composite ENPH -5.61% popped $6.50, or 30%, to $28.15 on 22.2 million shares Wednesday. On Tuesday the supplier of solar power microinverters released favorable second-quarter financial results. The stock has been rallying since starting the year under $5, and Wednesday’s move, on more than five times its average volume, broke price out from the bottom of the rising channel through the top.
Watch for an extension to next resistance near $32, using Wednesday’s low at around $26.25 as support.
Lattice Semiconductor /zigman2/quotes/204117531/composite LSCC -0.15% jumped $2.97 to $19.34 on 12.2 million shares, more than six times its average volume. The programmable chip maker beat Wall Street estimates in its second-quarter earnings release.
Wednesday’s move broke the stock out of a mini flag within its rising channel off the November low under $6. The channel top points to a target of $25 on an extension of this move.
MagnaChip Semiconductor /zigman2/quotes/209186947/composite MX -1.95% gained 45 cents to $11.05 on 1 million shares Wednesday following the release of quarterly results that beat analyst estimates. The move, on more than three times its average volume, continued the stock’s rally off its February low under $6.
The stock got as high as $12 intraday, and looks poised to test its quadruple top up around $13.25 next.
NCR /zigman2/quotes/203631053/composite NCR +0.89% rose $1.36 to $33.81 on 1.9 million shares, more than double its average volume. The software-and-services provider and ATM manufacturer reported better-than-expected second-quarter results.
Wednesday’s move, the eighth consecutive up session, broke the stock out of a nearly three-month consolidation after its pop in May. Target is $38 with support at $33.
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations. He doesn’t own any of the stocks mentioned in this article.