Technical Analysis Of Trending Stocks

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We are starting this new service for the technical analysis fans! Every day we pick up the trends from technical charts, we hope the traders will love this service. Please provide your feedback in the comments section below if you want us to cover some specific stocks or indicators.

BlackBerry stock technical analysis:

BlackBerry (BBRY) technical charts indicate that the share price might move in downward direction. BlackBerry’s stock has breached 20 day, 50 day and 100 days moving averages, on Friday. These will act as a resistance to the stock price. Also, MACD signal line has crossed MACD line from below. Both the above signals indicate that BlakBerry's stock price might decline in next few trades.  Previously on December 5th the signal line crossed MACD line, after which the stock declined. The RSI of 41.82 on that day, also indicated decline in price. However, BlackBerry’s stock price has hit the lower bound of the Bollinger band, which signals a trend where stock price is likely to move up.

BBRY-technical-chart

Source: BlackBerry Technical Analysis Chart by Amigobulls

Autodesk stock technical analysis:

The RSI of 33.08 for Autodesk (ADSK) shows that the company is nearing oversold position, indicating that the stock price may go up in near future. RSI below 30 indicates that the company’s stock is oversold. Autodesk stock price is currently trading at $57.29. On October 16th when the company was at its six month low $49.89 RSI indicated that the stock is oversold and the price will move up. In next fortnight the company’s share price moved up by around 18%. Same was the case on December 17th when RSI indicated that the stock was oversold and the stock price again moved up from $56 to $61 in next ten days.

The company’s stock price is approaching 100 day moving average from above. The 100 day moving average is more likely to act as a support for the stock price. Previously, on January 7th and December 16th the 100 day moving average has acted as a support.

ADSK-technical-chart
Source: Aut0desk Technical Analysis Chart by Amigobulls

Google Stock Technical Analysis

Google (GOOGL) stock price has declined from $540 to $500 in post-holiday season trade. The MACD divergence of -2.62 gives a bearish signals.  Google stock price might continue to decline in next few trades. Previously, n November 19th when the signal line crossed MACD line, Google stock price declined. Currently Google's stock price is trading below its 100 day and 500 day moving average.

GOOGL-technical-chart
Source: Google Technical Analysis Chart by Amigobulls

 

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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