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TheStreet Open House

Here Are 4 Momentum Charts to Watch for Thursday Trading

NEW YORK (TheStreet) -- Here are four stocks in strong uptrends, at or near key breakout levels with more room to run.

Inovio Pharmaceuticals (INO) has had quite a pop in the last four days, going from $9.40 all the way up to $14.20 at one point on Wednesday. It closed at $13.10, up $1.96, or 17.5%, on huge volume of 12.9 million shares. The close remained above lateral resistance from its recent high, and the target now is $15 1/2-3/4, which is next lateral resistance from the Feb-Mar double-top, followed by the top of the channel at around $20.

InvenSense (INVN) has been doing great in the last few days, taking out the recent double-top in the $24 1/2 area, which was also a cluster of highs in March. The stock has been in a steep ascending channel since mid-May, with targets at the short-term channel top of $28 followed by the longer-term channel top at $32.

Read More: Amazon Earnings: What Wall Street's Saying

InterMune (ITMN) has also been doing well, breaking out of a coil in the last few sessions. It was up $1.26, or almost 3%, to $46.40 on Wednesday, on 2.6 million shares. The stock is up against the mid-June high at $47.65, reaching $47.72 intraday Wednesday before backing off.  If it can get through there, the targets are $49 1/2, $52 1/2, and then $56.

SouFun Holdings (SFUN) took out its declining tops line on Tuesday, and followed through on Wednesday with a move up $1.18, or 11%, to $12.00 on 18.6 million shares. Watch for it to test the channel top at $13 1/4, and then lateral resistance at $14 1/2.

See Harry's video chart analysis on these stocks.

At the time of publication the author had no position in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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