Stocks in e-gaming, blockchain and other momentum areas are among our top charts to watch today.
Activision Blizzard ATVI, +0.41% rose 54 cents to $55.45 on 10.9 million shares Thursday, more than 1 1/2 times its average volume. The move, on an analyst upgrade of the electronic gaming company, popped the stock to as high as $57.52 intraday, above lateral resistance, before it backed off.
The stock, which is up from $45 in the last month, may be short-term extended and need to back and fill before making a run at the next target near the gap from last November at around $62.
InMode INMD, -0.59% gained 50 cents to $27.34 Thursday on no news. However, the recent IPO and maker of products for aesthetic medical procedures recently had bullish coverage initiation by several Wall Street firms.
The stock is in a bullish wedge formation, and a break through $28 could accelerate it to $32 next.
Lattice Semiconductor LSCC, +2.52% jumped 88 cents, or 4.3%, to $21.01 on no news. The stock, which has been in a beautiful rising channel since last November, up nearly fourfold, is now at the highest closing level in 18 years.
Recently consolidating in a six-week sideways channel, the stock now looks poised to break its recent intraday high at $21.44 en route to the long-term channel top near $26.
Overstock.com OSTK, -0.19% popped $3.96, or 17.4%, to $26.72 on 11.4 million shares, more than double its average volume. The move came on news that tZERO, part of Overstock’s blockchain subsidiary, is partnering with entertainment financing company BLOQ FLIX to tokenize films.
The stock, which is up from just under $15 in 10 days, broke above its early August high of $26.46. Watch for $32 next.
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 the stocks mentioned here.
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