Positive news as well as technical momentum are fueling these four charts.
XPO Logistics (XPO) - Get Report on Tuesday broke out of a several-week consolidation, rising $1.25 to $49.06 on 1.9 million shares. The trucking logistics company offered an upbeat outlook on the rest of 2017 as well as 2018. The stock intraday on Tuesday reached $49.79, approaching the $49.86 high from Dec. 9. A breakthrough that should test the May 2015 highs near 51, and through there the stock could make a run toward the middle of the one-year rising channel at $60 and then the top near $70.
EMCORE (EMKR) - Get Report has been in a slightly rising channel since it popped 31% in a single session in early December on strong earnings. In the last week, after the maker of components for communications gear and solar panels again released earnings that topped Wall Street expectations, the stock has risen from the bottom of the rising channel. On Tuesday, the stock popped 50 cents, or 5%, to $10.25 on over 1 million shares traded. Watch for a move next to $12.50-$13.00.
Kate Spade & Company (KATE) has popped out of a six-week sideways, coiling pattern on Tuesday, up 83 cents to $19.61 on huge volume of 8.8 million shares. The move came after DealReporter reported the handbag maker is expecting takeover bids. The stock had been in an eight-month downtrend until late December, when it popped 23% in a single session, and has consolidated since in a narrowing coil pattern until Tuesday's pop. If Tuesday's high over $20 is taken out, the stock could reach $22-23 next.
BLUEBIRD BIO (BLUE) - Get Report is on the move, up $2.85 on Tuesday to $79.30 on 821,900 shares traded. The clinical-stage biotechnology company focuses on developing transformative gene therapies. The stock in late January broke out of a one-month wedge formation in which its price range had been narrowing and going sideways, and has risen more than 20% since. If it can get through resistance at around $79.70, watch for a run initially to the mid-$80's, and then the mid-$90's.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
The author has no holdings in these stocks.