3 Breakout Stocks To Watch
Here are three stocks that have broken out of above resistance and are looking higher:
Neoleukin Therapeutics, Inc. (NASDAQ: NLTX) edged up 27 cents to $11.38 on average volume of 555,100 shares 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 re-test of the spike high from Dec 23 at $13.43.
Sea Limited (NYSE: SE) jumped $3.05 to $44.36 on 10.4 million shares Wednesday, about 2 1/2 times its average volume. Goldman Sachs Group Inc (NYSE: GS) 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. (NASDAQ: XPEL) climbed 96 cents to $16.35 on 924,000 shares, about 5x 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.
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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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