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Aug. 16, 2019, 11:15 a.m. EDT

These 4 stocks have strong technical momentum

These stocks are breaking out after earnings

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By Harry Boxer


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These four stocks are moving on positive earnings and have strong technical momentum.

Canadian Solar Inc. /zigman2/quotes/205481506/composite CSIQ -0.81% rose $2.48 to $23.08 on 4.3 million shares Thursday, over six times 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 toward $29.

HUYA Inc. /zigman2/quotes/204095537/composite HUYA -2.50%  jumped $1.79 to $23.18 on 6.1 million shares Thursday, nearly 2 1/2 times its average. The China-based operator of 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 in the short term.

InMode Ltd. /zigman2/quotes/213589098/composite INMD -0.79% 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. /zigman2/quotes/205307175/composite ZYXI -0.12% advanced 66 cents to $9.82 Thursday on 393,300 shares. 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.

See Harry’s video chart analysis on these stocks .

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations. He has no holdings in any of the stocks mentioned in this article.

/zigman2/quotes/205481506/composite
US : U.S.: Nasdaq
$ 29.28
-0.24 -0.81%
Volume: 2.04M
Sept. 18, 2020 4:00p
P/E Ratio
6.86
Dividend Yield
N/A
Market Cap
$1.75 billion
Rev. per Employee
$308,724
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/zigman2/quotes/204095537/composite
US : U.S.: NYSE
$ 26.87
-0.69 -2.50%
Volume: 1.97M
Sept. 18, 2020 4:00p
P/E Ratio
65.58
Dividend Yield
N/A
Market Cap
$6.13 billion
Rev. per Employee
$861,571
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/zigman2/quotes/213589098/composite
US : U.S.: Nasdaq
$ 36.22
-0.29 -0.79%
Volume: 491,529
Sept. 18, 2020 4:00p
P/E Ratio
29.39
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
N/A
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/zigman2/quotes/205307175/composite
US : U.S.: Nasdaq
$ 17.20
-0.02 -0.12%
Volume: 1.51M
Sept. 18, 2020 4:00p
P/E Ratio
53.83
Dividend Yield
N/A
Market Cap
$597.63 million
Rev. per Employee
$175,368
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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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