NEW YORK (TheStreet) -- Many of the stocks we follow continued strong on Thursday, and here are four that appear to have more room to run.
Canadian Solar (CSIQ), after an earnings blowout on Wednesday on huge volume of 19 million shares, had a nice follow-through on Thursday on nearly 11 million shares, up $1.37, or 4.4%, to $32.40. It's right at the resistant zone from the April high and above the recent highs of $31.90, reaching as high as $32.86 intraday on Thursday.
With that kind of momentum, the stock may very well follow through and test the $36.50 to $36.75 range, which is the short-term target. Beyond that, the March highs up around $44.50 may be tested. Shares currently trade around $33, up 10% year to date.
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Enphase Energy (ENPH) is looking very interesting. Last month the stock broke out above the shoulder of a massive head-and-shoulders bottoming pattern. The stock then consolidated, had a big pullack on low volume, and then another pop with the breakaway gap on volume, followed by a flag-type consolidation. On Thursday the stock jumped 84 cents, or 7.2%, to $12.39 on 1.9 million shares.
Looking at the longer-term chart, this stock is at the midway channel of a long-term pattern. If it can accelerate through the mid-channel trendline, it could get to the low-to-mid $20's, with the first target $16 1/2-17. Shares currently trade around $12, up 91% year to date.