By Harry Boxer
Also featured: ArQule and Qudian
Three stocks that had been digesting recent gains now appear to be on the rise again.
ArQule Inc.(ARQL) gained 42 cents to $7.17 on 2.6 million shares traded Tuesday. The move came on no news from the biopharmaceutical company. The stock broke out of a month-long wedge pattern last week and backed off before Tuesday's move. It edged above resistance at the July high of $7.21 intraday. A follow-through could get it to $8.50 next.
Qudian Inc.(QD) jumped 95 cents to $7.09 on 10.9 million shares traded Tuesday, or 1 1/2 times its average volume. The move followed Monday's earnings release by the China-based provider of online small consumer credit products. The stock had been in a down-channel off its May 2 high at $8.51, but Tuesday's move broke it out above the declining tops line. Watch for a test of that $8.51 high next.
Roku Inc.(ROKU) popped $4.30 to $87.63 on 10.9 million shares traded Tuesday on no news from the streaming-TV company. The stock gapped up by about a third on May 9 on strong earnings, and has been flagging since. Tuesday's move edged the stock above the top of the pennant, as the stock had its highest close ever. The long-term rising channel points to a target in the high-$90s
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.
-Harry Boxer; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 22, 2019 13:47 ET (17:47 GMT)
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