Blackberry, once the darling of the Techworld and Wall Street, has been in a long term downtrend for the past few years.
From the chart, we can see since 2013 , it attempted to break out of the downtrend line twice only to drop below into the downtrend line again. However, we also note that Blackberry has formed a series of higher low since 2013, and it recently it broke out of the downtrend line again for the 3rd time since 2013. But Volume is not high for this recent breakout so it would be prudent to observe more to validate the breakout validity.
We shall observe its price action and if it pullback and stay above the downtrend line, it could be a encouraging sign, signalling a potential change of trend in blackberry. If its rally can be sustainable, the first resistance could be 8.26 follow by 8.71 .
Meanwhile we shall observe its price action first and shall share again if there are any interesting entry setups for it .
Dow Jones Index is currently on the middle channel of the uptrend line (First chart) , which could act as the resistance as it recently tried to break above this channel line but start to pullback again ( Second Chart ) , if price do not rally and stay above this uptrend line channel soon, it could signal a correction for the Dow Jones after the recent strong rally , with support at 18190 follow by 17124 ( in the event of a heavy pullback )
Since July 2015, Apple has been on a well define downtrend channel , touching the downtrend line upper channel resistance for the next 3 times, but came down each time it rally to the downtrend line upper channel resistance ( in mid April 2016, it attempted to break above the downtrend line upper channel resistance but fail to stay above it and came down again ). If Apple continues to rise, the downtrend line upper channel may be where its next rally target level is and act as a resistance again around the price region of $102.59.
If it reach the downtrend line upper channel resistance and start to weaken again , it may signal price action weakness in the stock , and a short position may be initiated with a stop loss above $104 . It’s upcoming results will out on 26 July.
Will the stock continue to be the apple of investors’ eyes or start to show weakness soon ? Lets stay tune .