Thursday, October 15, 2015

Stocks To Watch: $EYES, $BBRY, $CJES

Second Sight Medical Products Inc (NASDAQ:EYES) broke out of a base formation today on high volume. Technical indicators are beginning to turn bullish. The MACD has crossed above its signal line and RSI has climbed up from its oversold zone to the 37% level. I believe it is ready to post a nice bounce and I do not see any resistance on the daily technical chart until $8.75. A stop loss should be placed below 5.75

BlackBerry Ltd (NASDAQ:BBRY) stock is flagging nicely after a sharp several-day rally that took it up from the $6 level to 7.45 and looks poised to potentially make another move higher. Technical indicators are looking bullish. The MACD is rising above its signal line and about to enter positive territory. The RSI is above its 50% level and MFI is rising. January $12 calls have been active today.

C&J Energy Services, Ltd. (NYSE:CJES) is coming up to a possible breakout. Watching for it to break above $5.47 


Gary kicks odd today with comments focusing on the gold market. He continues to see gold entering a bull market and the US dollar continuing to decline. He also has a call for HUI that will make many holder very happy if it hits.

Click to Gary’s Audio with Al Korelin

Gary SavageAl KorelinCory Fleck
On October 14, 2015 at 9:24 am,
spanky says:
If we have hit bottom in gold, it will be interesting to see how the miners do over the next 5 years or so. Looking at the long term BGMI chart, miners essentially go straight up or straight down in 2-3 year bursts.
Also, it is interesting to note that the miners haven’t really gone anywhere in 35 years. That is one hell of a base.
My only concern are the long term moving averages, like the 200wma, which could temper the speed of the rally. Would rather make my millions in 5 years than 10. Lol.

Autodesk, Inc. (NASDAQ: ADSK)

Autodesk, Inc. operates as a design software and services company worldwide. Autodesk, Inc. also sells consumer products for digital art, personal design and creativity, and home design in various digital storefronts and over the Internet. The company licenses or sells its products to customers in the architecture, engineering, and construction; manufacturing; and digital media, consumer, and entertainment industries directly, as well as through a network of resellers and distributors. Autodesk, Inc. was founded in 1982 and is headquartered in San Rafael, California.
Take a look at the 1-year chart of Autodesk (NASDAQ: ADSK) below with my added notations:
1-year chart of Autodesk (NASDAQ: ADSK)
ADSK has been trending lower for the past 8 months. Over that time, the stock has formed an important trend line of resistance (red). Any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its importance. ADSK’s trendline resistance currently sits right around $52.
Now that ADSK has hit its trendline again, the stock may be pulling back down to its $50 support (green).

The Tale of the Tape: ADSK is currently stuck under a down trending resistance. A break above that resistance should mean higher prices, thus a long trade could be made either then, or on a fall to the $50 support. Short traders might look to enter a trade at the resistance or on a break of support.