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Arista Networks and GoPro Are Among This Week's 4 Breakout Stocks to Watch

NEW YORK (TheStreet) -- A lot of stocks we follow broke out on Wednesday, and here are four to watch that appear to have more room to run.

Arista Networks (ANET - Get Report) had a good day on Wednesday, up $3.94, or 6%, to $67.79 on 608,100 shares. The stock, which had held lateral support for three days, broke out of its declining channel on Wednesday's move. The next target is lateral resistance at recent highs in the $72-$73 range, and beyond that $77. Shares are now at $66, up nearly 20% for the year to date.

Arris Enterprises (ARRS - Get Report) broke out of a rising triangle pattern on Wednesday, up another 1.06, or 3%, to $35.26 on 2.5 million shares. That's the highest level reached in 14 years. The stock is positioned toward the bottom of its long-term up-channel, and the mid-channel target is up around $39. Shares, at $35, are up 44% YTD.

BioCryst Pharmaceuticals (BCRX - Get Report) on Wednesday broke out of a micro, inverse head-and-shoulders pattern, with a move up 61 cents to $12.86. A move above triple-top resistance at $13.20 could lead to our next target at the top of the channel in the $15.50 to $16 zone. Shares, at $12.55, are up 65% YTD.

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GoPro (GPRO - Get Report) had a nice pop on Wednesday, up 2.25, or 5.1%, to $46.32 on 6.4 million shares. That's still not the volume I'm looking for, but it has good momentum, up five points in the last few sessions. At some point the stock may start to spike, with the next target at the recent highs at $48-$49. Right now shares are near $46 and are up 46% YTD.

See Harry's video chart analysis on these stocks.

At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.

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

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ANET $53.00 -1.78%
ARRS $23.10 0.48%
BCRX $1.89 6.18%
GPRO $11.39 3.64%
AAPL $94.99 -0.02%


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