Here are three stocks that have broken above resistance and may rise higher.
Neoleukin Therapeutics Inc. NLTX, +0.52% edged up 27 cents to $11.38 on average volume of 555,100 shares traded 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 retest of the spike high from Dec. 23 at $13.43.
Sea Ltd. SE, +1.19% jumped $3.05 to $44.36 on 10.4 million shares traded Wednesday, about 2 1/2 times its average volume. Goldman Sachs 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. XPEL, +4.28% climbed 96 cents on 924,000 shares traded, about five times 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.
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.