Here are four stocks making strong moves and that look great technically.
Fabrinet, which services manufacturers of optical communications components, has a beautiful chart. It had a breakaway gap about two weeks ago after beating Wall Street estimates, and then pulled back gently over a 5-day period holding gap support on quiet volume. However, in the last three days it has moved up again. On Wednesday, it reached a high of $29.90, before closing up 63 cents to $28.08. Volume of 441,700 shares was good, but not great. Look for it to run up to the channel top at about $33.50, which is its all-time high going back to 2011.
Lumentum, a recent IPO also in the optical communications arena, broke out earlier this month after topping Wall Street forecasts and then flagged. On Wednesday, it popped out of the flag, up 58 cents to $24.39 on nearly a million shares. Look for a test of its post-IPO high above $26.50, and then the channel top at around $28.50.
Regulus had a fantastic day on Wednesday, up $1.21, or 19%, to $7.49 on 10.6 million shares, after positive mid-stage study results for its experimental hepatitis C treatment. The stock got as high as $8.85 intraday, touching its declining tops line before pulling back. A break through that tops line could take the stock to its November high near $10.50 and then $12.
Swift Transportation Company (SWFT)
Swift, which broke out in late January on strong earnings, is consolidating nicely in wedge pattern. The stock has made higher lows, and the moving averages are crossing over, as the stock challenges lateral resistance at around $17.75. A break through that level could lead to $20.50-.75, the September high, followed by $24-24.50.
See more video chart analysis on these stocks.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.