By Harry Boxer
In focus: Clovis Oncology, Luckin Coffee and Luna Innovations
Here are three stocks with continued technical momentum in the days and weeks after strong earnings releases.
Clovis Oncology Inc.(CLVS) jumped 75 cents to $7.76 on 8.1 million shares traded Thursday. The move continued the stock's run-up following the biotech company's better-than-expected earnings release two weeks ago. The stock closed right above lateral resistance, and next target is the rising channel top near $9-$9.25.
Luckin Coffee Inc.(LK) popped $1.65 to $27.95 on 14.4 million shares traded Thursday, more than three times its average volume. Shares in the China-based company have been running since its Nov. 13 quarterly financial release that topped analysts' estimates. The stock in recent days pulled back from its high, before Thursday's move. A break back above Tuesday's intraday high of $28.85 could get this to $30-$32 next.
Luna Innovations Inc.(LUNA) climbed 20 cents to $7.13 on 636,300 shares traded Thursday. The move, on nearly double the average volume, came on no news from the fiber optic-based technology company, though the stock has been climbing (now up about 20%) since the company's Nov. 5 earnings release. The stock made a new all-time high at $7.40 intraday Thursday, with the rising channel top pointing to above $8.
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
November 22, 2019 12:50 ET (17:50 GMT)
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