BlackBerry Ltd (NASDAQ:BBRY) Closed the week with a BANG and looks like it will continue to run up. After 4 weeks trading in a tigh range, patient investors were rewarded as the price finally broke out of the consolidation period. From a technical standpoint, the daily chart shows that the 200-day EMA stands at 8.33, providing a key dynamic resistance for the upcoming sessions, as an extension beyond this level, should lead to additional gains and a potential big short squeeze. In the same daily technical chart, indicators maintain their bullish tone above their mid-lines, which means that the rally is far from over.
by James J Puplava CFP
welcomes back legendary technician Ralph Acampora, Director of Tactical
Investments at Altaira Wealth Management. Ralph advises buying the
dips, as he sees a nice market run into the end of the year. Ralph notes
we got the needed market washout in August and September, and it then
turned up impressively in late September in the face of bad news from
China. Ralph still believes we are in a secular bull market, with normal
corrections and periods of sector rotation. He currently favors the
financial sector, and offers some investment ideas within that sector.
Also in this segment, Ryan Puplava has this week’s Market Wrap-up, and
Robert Rapier covers the energy space.
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