Here are four stocks to watch, three of which are moving on strong earnings reports.
Anika Therapeutics Inc. ANIK, +6.01% popped $11.78, or 29%, to $52.60 on Thursday on 1.3 million shares traded, or about eight times its average volume. The small biotech company beat analysts’ estimates in its second-quarter results released after market close Wednesday. The breakaway gap, and continued runup, broke the stock through several layers of lateral resistance, with the next target at the $61 level last reached in early 2018.
AudioCodes Ltd. AUDC, +0.43% jumped 69 cents to $18.52 on Thursday on 454,300 shares traded. The vendor of advanced voice networking and media processing solutions for the digital workplace reported strong second-quarter results Tuesday. That news broke the stock out of a nearly three-month coil pattern. After pulling back slightly Wednesday, the stock resumed the rally Thursday, with the rising channel pointing to $21 next.
Owens Corning OC, -2.44% gained 96 cents to $59.50 on 1.9 million shares traded Thursday. The building-materials company posted better-than-expected second-quarter results Wednesday. After breaking out of a multi-month base pattern late last month, the stock pulled back in an orderly flag before Wednesday’s news popped it out. Thursday’s follow-through positions the stock for a test of the $64 level next.
Overstock.com Inc. OSTK, +2.91% rose 10 cents to $19.21 on 6.7 million shares traded, more than 1 1/2 times its average volume. The move came on no news from the online retailer. After more than doubling in price from mid-June to mid-July, the stock has been in a sideways range, with Thursday’s intraday high edging it above lateral resistance. Watch for a test of next lateral resistance from the March highs near $23 next.
See Harry’s video-chart analysis on these stocks.
The writer has no holdings in any of the securities mentioned.
Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis and live chart presentations.