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 is a buyBBUSD bouncing around 0.618 with an RSI very bullish.
ABC completed for correction, new wave coming, keep an eye on it.
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 $12, only 1k shares.
They don't sell any hardware any more, it's strictly software by license which is high margin.
Approaching Sell tierResistance from messy top is close. Looking for a rebound from highs into new lows potential. Or at least to lower trendline making another higher low as it has been for many years now. Medium term short.
Looking to pullback to at least intermediate support zone of 11$.
BB: This name is slowly climb up under JC.I like what I see. Price marked.
BTO June 21st- 10s. Load up.
BlackberryChart showing the entire price history of Blackberry. Price has 18 year support in the $5-$6 range. Price recently dipped all the way to $6.60 before rebounding to $8. This is an easy buy and hold for me. Downside seems limited.
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.
