Trade Ideas: BBRY, FB, GLUU, GPRO

BlackBerry Ltd (NASDAQ:BBRY) has been in a beautiful uptrend move since beginning of June. Considering the strong momentum in the past weeks the stock price looks set to break higher and rise above its 52-week high of 12.18. Looking at the long-time frame, the chart reveals a Head and Shoulders bottom pattern with a medium term price objective of $18.

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Facebook Inc (NASDAQ:FB) broke out of its rising wedge (typically a bearish pattern) to the downside last week. As a result, I remain cautious on the stock, even after Friday’s rally. Only a break of the $68.44 level will clarify the technical picture.

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Glu Mobile Inc. (NASDAQ:GLUU) broke out to new 52-week highs Friday. The stock which has doubled since November of last year is positioned for more upside. As long as the stock price stays above $5.66 area, the bullish scenario is still intact.

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GoPro Inc (NASDAQ:GPRO) If the downtrend continues on Monday the stock will take support at 38 and then at 37.83. An upward reversal from this area can take the stock higher to 39.92 EMA9 and then to 40.32 EMA13 in the short-term. The daily relative strength index has entered in the oversold zone, so small bounce can be expect at current levels, but not garanteed (30m chart).

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Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.
About Antonio Costa 325 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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