Tuesday, January 12, 2016
Tesla has dropped significantly over the past couple of weeks, bouncing off a true and tested support line near the $203 mark. This level has been tested and held four times over the past year. This possibly presents us with a buying opportunity as this level, with a stop loss at or near $200.
Alcoa stock has lost about 20% of its value in the past few days, but seems to be bouncing off key support at the $8.00 level. If this support hold, the stock officially forms a triple bottom at this level, presenting itself as a great buying opportunity. Investors/traders should keep a tight stop loss at 7.85 or 7.75 just in case the support breaks!
Monday, January 11, 2016
After recognizing a short term wedge in Apple’s stock, I correctly predicted a drop in price back in mid December (here). Now we need to go back to a two-year chart to find some key support levels. It seems that the stock bounced off support at around $97. If this level fails to hold, we can expect a drop to $90, as seen in the below chart.
Friday, January 8, 2016
BBRY had a hard time breaking above recent highs at $9.40, and has reversed sharply in the last couple of weeks. In the short term, traders can expect support off of $7.50, as the stock seems to be forming a rising trendline on its 3 month chart.
After presenting some promising technical strength over the past few weeks, making $3+ seem very likely, VRNG reversed and now seems to be on a well defined downward channel. As I argued in my Seeking Alpha article here, it is my opinion that the stock is significantly undervalued at these levels, and present a very solid buying opportunity for patient investors.