Monday, October 26, 2015

Blackberry $BBRY, Apple $AAPL, Facebook $FB


BlackBerry Ltd (NASDAQ:BBRY) after a big surge early this month, the stock has been consolidated in a very good pattern, creating a flag formation on the daily chart. This is typically a bullish continuation pattern. Friday's move it seems to have broken the flag's upper boundary, however we need a clear violation next week, followed by a break of the intermediate resistance at 7.45. Based on the technical chart, I see a high probability for a continuation of current momentum and a move toward the 8-8.25 area. BlackBerry has already opened-up pre-orders for its Android smartphone, known as the Priv, a high-end QWERTY slider phone with a fantastic battery life and great camera. Blackberry Priv might be the most secure Android phone ever. This could be a good catalyst for shares.


Apple Inc.(NASDAQ:AAPL) broke out of a large sideways channel pattern on solid volume, closing at the highest price in almost two months. If momentum continues, we could see the stock hit 130 over the next couple of sessions, but keep mind, Apple will report earnings on Tuesday afternoon, so everything can happen.



Facebook Inc (NASDAQ:FB) recorded a new high in Friday's session. Short-term outlook for the stock is bullish. Buy the stock in dips with a stop-loss at $98.88. The daily technical chart looks very Bullish with all EMAs going up and MACD on top of "0". Long setup.
  

Tahoe Resources Inc (NYSE: TAHO)

Tahoe Resources Inc., together with its subsidiaries, explores for and produces precious metals in the Americas. The company primarily produces silver, as well as gold, lead, and zinc. Its principal project is the Escobal project located in Southeast Guatemala. The company was formerly known as CKM Resources Inc. and changed its name to Tahoe Resources Inc. in January 2010. Tahoe Resources Inc. was incorporated in 2009 and is headquartered in Reno, Nevada.
Take a look at the 1-year chart of Tahoe (NYSE: TAHO) below with added notations:
1-year chart of Tahoe (NYSE: TAHO)
After declining steadily over the course of the past year, TAHO started trading in a mostly sideways move. While in this sideways move, the stock formed two important price levels to be aware of. The first level to notice is the resistance at $10 (red). The other level TAHO created would be the $7.50 support (green).

The Tale of the Tape: TAHO is trading between two key price levels. The possible long positions on the stock would be either on a pullback to $7.50 or on a breakout above $10. The ideal short opportunity would be on a break below $7.50.

US Weekly Economic Calendar

time (et) report period ACTUAL forecast previous
MONDAY, OCT. 26
10 am New home sales Sept.
550,000 552,000
TUESDAY,  OCT. 27
8:30 am Durable goods orders Sept.   -1.5% -2.3%
10 am Consumer confidence index Oct.   101.0 103.0
WEDNESDAY, OCT. 28
8:30 am Advanced trade in goods Sept.   -$64.8 bln -$67.2 bln
THURSDAY, OCT. 29
8:30 am Weekly jobless claims Oct. 17   N/A N/A
8:30 am Gross domestic product 3Q   2.1% 3.9%
FRIDAY, OCT. 30
8:30 am Personal income Sept.
0.2% 0.3%
8:30 am Consumer spending Sept.   0.1% 0.4%
8:30 am Core Inflation Sept.   0.2% 0.1%
8:30 am Employment cost index 3Q   0.6% 0.2%
10 am Consumer sentiment index Oct.   -- 92.1