BB trade ideas
BB Summer RallySmall caps appear to have broken out (IWM/$RUT), which means we'll see some money flowing into garbage small caps. If I gotta pick anything here, it's BB. Increasing revenue and they made a profit. Got hammered by lack of liquidity after earnings.
All kinds of positive TA... inverted H&S, a larger inverted H&S, cup and handle, bear flag. On top of that, positive divergence on MFI and RSI. Picked up 3k shares at closing price, thinking this heads back to $10.25 in a couple of weeks.
BB Inverted H&SIn this pumptarded market, very few stocks can justify their ridiculous P/E ratio. Bought into this yesterday for earnings, came out better than expected. I'm actually surprise this isn't up 20% already, maybe they should start selling yoga pants.
Earnings were 11 cents for the quarter, assuming growth, forward P/E would be less than 20. I'm holding this until at least $12, only 1k shares.
They don't sell any hardware any more, it's strictly software by license which is high margin.
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
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.
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.
