0R0P trade ideas
Blackberry - Daily - Showing signs of hopeTrade Alert
Something that you don't look at very often, but still, it is good have it mind, for those who are interested.
After a prolonged decline, BB is finally showing signs of hope again, by breaking the short-term downside resistance line. Of course, this doesn't mean that the stock now will fly sky high, but to see some higher levels could be a possibility.
If the stock breaks above the 7.65 barrier, we will then aim for the 9.00 level, marked by the highest point of December 2018.
If the share price suddenly reverses back down and drops below the aforementioned short-term downside line, we will take a more neutral stand and wait for the next setup to build up.
Don't forget your SL
long term bullish outlook on BBShort term - the next week - it looks bearish but long term this looks promising.
We'll see how this plays out.
Watch for a bump after earnings. This stock has been beaten down with the rest of the market over the past few weeks. It is heavily oversold. Neutral or a beat on earnings will push this back up to at-least the 50 MA. Its not about phones any more. This company has been focusing on IoT and cybersecurity and is well placed for the long term.
BB Head and Shoulder formation? Target 8.50 - 9.50Breakdown on multiple week channel. Possible breakdown on H&S formation. RSI about to be oversold, so expect a small bounce before more down.
BlackBerry going back to $9.50? BB is evolving in a parallel channel. We failed to break out of the upper limit even after a positive $0.15/share surprise on EPS and an increase of 126% in net income compared to last year's report. However, the announced high revenues coming from their new activities take longer than expected to yield a profit. That is why I believe market sentiment will not get substantially better in the short run. However, in the long run, BlakcBerry might perform well within the software and automated car industry.
$BB WeeklyFrom lows of 6.23 back in June '16 ... BB has run 133% ... topping out at 14.55 in Jan '18. Since then it has been in consolidation mode and constructing a bullish falling wedge and retraced all the way to .618 on the Fib. This is a bullish consolidation imo for the start of a new uptrend in this name.
Good View EMA 5-15Good view EMA during last month, now indicators fully support a continuation of the trend.
BB Summer Gains 2Going back for more, it's a bit early since it takes a bit for this stock to warm up, but when it does oh BB please!!! on a daily bullish on BB get some traders!
bullish on BB
We can see the bottom form on BB, this gives us a reasonable stop price to manage risk.
We also seen a key resistance broken at $10.17 on Friday, have not raise stop price yet.
Blackberry may be heading lowerBlackberrys current earnings report sent it free falling based on lowered guidance. It currently broke through the $10 support level and the next support level is around $8.50 or so. The RSI is in oversold territory and going back to 2014 on the daily, the RSI tends to bounce at 20 flat. I believe 8.50 would be a great buying opportunity.
