Harry Boxer reveals four stocks exhibiting solid technical breakouts.
Bloom Energy Corporation (BE) is acting well and looks like it wants to go higher. The stock has had a big reversal off its mid-March lows in a right-hand extended V bottom. On Wednesday it ran $1.18, or 17.4%, to $7.95 on 3.9 million shares. Next target is $9.50.
Oil stock Delek Logistics Partners, LP (DKL), which has also reversed sharply off its March lows, exploded on Wednesday, up $5.17, more than 58%, to $13.98 after reaching an early session high of $14.45. The move came on 3.7 million shares traded; the highest volume that has ever been traded on this stock. Watch for a follow-through to test the gap and moving average, but for now the target is $17.
Kirkland Lake Gold Ltd. (KL), one of my old favorites, is on the move, up $3.15, or 8.5%, to $39.82 on Wednesday, with a session high of $39.98, on 2.5 million shares traded. The stock has V-bottomed off its mid-March lows in a series of breakouts and wedges. Our target is $45 on a breakout through $40.
Snap Inc. (SNAP) broke out with a major thrust on Wednesday, up $4.56, or 37%, to $17.01, not far off the session high at $17.15, on a whopping 170 million shares traded. That was a massive move on a strong earnings report. Next targets are $18 and $20.
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