NEW YORK (TheStreet) -- Five stocks to watch today are tech sector momentum plays, three of them companies based in China. Each has favorable technical patterns going for it.
1. Cheetah Mobile (CMCM) broke out of its wedge on Wednesday, up $1.74, or 8%, to $23.51. The China-based mobile utility app developer released a report Tuesday that 99% of Android phone users faced a potential threat from Android loopholes. The stock surged in early April from just above $17 to over $24, completing a head-and-shoulders bottom pattern, before consolidating in a wedge formation. Wednesday's volume of 1.7 million shares was the biggest in a week and a half. Watch for the stock to retest the $25.50-to-$25.75 barrier, and if it gets through that, it could reach $30.
2. Mobileye (MBLY), the Israel-based maker of camera-based driver assistance systems, is rallying in a third leg after popping in March and pulling back in a falling wedge. The stock gained 93 cents to $47.47 on Wednesday, closing right at lateral resistance. A move above here should lead to $50-to-$52 next.
3. Splunk (SPLK) moved across a key resistance range on Wednesday, jumping $1.69 to $65.92. The San Francisco-based software company announced Tuesday that its Splunk App for Enterprise Security doubled its customer base in fiscal year 2015. The stock, which broke out of its two-month down-channel several weeks ago, appears to want to make a run at the recent high of $70, the next target.
4. Vimicro International (VIMC) had a nice move on Wednesday, up $1.31, or 10.8%, to $13.42, on no news. The China-based video surveillance maker has seen its stock in the last week break out of a four-month base pattern on big volume. Watch for a move to $17-to-$18 next.
5. Weibo Corporation (WB) exploded out of a base pattern on Wednesday, jumping $1.56, or 10.7%, to $16.09, on a solid 1.4 million shares. This move takes it out of a wedge. We'll see if it will extend. The next target is the $18-to-$19 zone, maybe as high as $20. The China-based company produces a social media platform for people to create, distribute, and discover Chinese-language content.
See more on the analysis of these five stocks here.