BBRY update: intermediate iv in?!

Price managed to move above the ascending trendline that has held any advance in check since the July 11 high. That’s a good start. There’s + div on the daily RSI(5) and MACD between the July 17 low and July 31st low, not shown!, so let’s see how this develops, but it looks good for the BBRY bulls over the near term, imho. Longer term we may have to wait and see if it will only be 3 waves up (corrective and new all time lows to follow eventually), or if we get 5 waves up; that would mean many new ATHs longer term. Time will tell.

bbry update 08082014


7 thoughts on “BBRY update: intermediate iv in?!

  1. Hi Soul,

    Not yet, I was watching it early in the day, and it started a little weak. My plan was to check again right before closing, but didn’t get back to my computer in time. It ramped up the last couple hours and did confirm a buy signal, however, so I’ll buy tomorrow. Other tickers we both follow:

    GOGO – What a day. Got crushed early. Nealy filled the GAP I mentioned to you a while back (13.82-14.27), then reversed up hard. Did you see the candlestick? Huge hammer, often a reversal candle. Could be the bottom. There’s huge support/resistance around 15.50ish. Close above would be a huge buy, IMHO.

    JCP – Could be starting 3 of 3 of 3 of 3 of 3…sorry, there’s so many 1-2’s, I’ve lost track. Earnings are Thur. after hours which could be the catalyst to finally get us out of the $8.00 to $9.50 range it’s been stuck in. If you remember, last earnings report resulted in a huge GAP up. As you know, I like playing earnings when the waves appear in my favor, so I’m thinking of getting back in, in the next 3 days. I would love to get your input, if it’s still on your radar.

    Thanks for all the updates & GL!!!

      • I’m in with you now. ($9.55) I sold SAM for a small profit, 2.15% in 12 days, to fund it. I’ve realized it’s best to stick with a plan and to know why I make each trade. I bought SAM expecting an earnings pop. It didn’t happen, so I move on to the next opportunity. Taking a small profit or small loss quickly when a trade doesn’t play according to the plan is the best strategy, IMHO. Holding and Hoping only leads to big losses.

        Let’s see if BBRY can get going!!!

  2. Perfect timing on your BBRY post. I’ve been patiently waiting for a low risk entry and was just about to ask for an update to exchange notes and observations. Monday will tell us if we’re going up now or need one more low for int iv, IMHO.

    On the plus side (as you noted):
    1) Close above trendline (huge)
    2) Positive divergence on MACD Histogram, RSI, Full Stoch’s, and the MACD line is nearly there wanting to round up.
    3) Your AI is on a mild buy on the daily.
    4) My personally developed indicator is as close to a buy signal as it gets without actually being triggered.

    On the down side, $8.46 has been my ideal target for some time (as if a stock ever plays exactly like planned):
    1) Gap from $8.46 to $8.71 could act as a magnet to pull prices down.
    2) For this down trend (int iv), if A=C, then the target is $8.48. Pretty darn close to the $8.46 Gap bottom. πŸ˜‰
    3) From the $8.71 low on 7/31, the count up is choppy and feels a little forced for a new uptrend. (1-2, 1-2?)
    4) On the weekly, AI & divergences still pointing down, but looks to be starting to round up (lagging indicator).

    Plan for Monday:
    If price closes above the trendline again, and ideally above the recent $9.60 high on 08/05, then it’s a buy for me (especially if the overall market continues up). My indicator should be a buy with any green close, (not just over $9.60). FYI, it’s been on a sell signal since 7/14.

    Thanks for all your help, GL!!!

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