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This Retailer Among Our 4 Momentum Stocks to Watch by Harry Boxer


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#1 OEXCHAOS

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    Mark S. Young

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Posted 18 July 2018 - 02:19 PM

This Retailer Among Our 4 Momentum Stocks to Watch
By Harry Boxer
 
Today’s top charts to watch include a specialty retailer and an e-commerce company in addition to two drug makers.
 
Abercrombie & Fitch Co. (ANF) gained 79 cents to $26.36 on 1.3 million shares Tuesday on no news.   The stock, which is in a 1-year up-channel, tested rising trend line support in early June and again recently.  Tuesday’s move broke it out of a declining wedge, with the June high near $28.75 the next target, followed by the low $30’s.
 
Arrowhead Pharmaceuticals, Inc. (ARWR) jumped 65 cents to $16.45 on 1 million shares traded Tuesday.  The move came on no news from the developer of RNA interference drugs.  The stock has been in a week-long flag after its breakout from another flag during what has been a steep ascent since early May.  A move through Monday’s high near $16.75 could propel the stock to the channel top near $22.
 
Etsy, Inc. (ETSY) advanced $1.34 to $44.25 on 1.2 million shares Tuesday.  The e-commerce company saw its shares pop in June on improved guidance and a roll out of its new user toolkit, and it has since been in a high-level consolidation.  A break above recent highs at about $45.50 could accelerate the stock to $52-$53.
 
Zafgen, Inc. (ZFGN) rose 52 cents to $10.56 on 444,800 shares Tuesday.  There was no news from the company, which develops therapies for patients suffering from metabolic diseases.  Tuesday’s move broke the stock out of a mini flag that had followed its steep advance since late June.  A break of recent highs near $11.25 could get the stock to $12.75 next.
 
No holdings.
 
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

 


Mark S Young
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