🔄 Update on Blackberry (BB)
Although Wave 4 of this Minor movement was initially expected to remain within the $3.81 to $4.11 range, there is currently no clear invalidation of the structure, as we haven't seen a retracement below Wave 2 lasting for at least three consecutive daily closes, even with a minimal percentage margin.
📉 Technical Note: A descending triangle appears to be forming within Wave 4. A breakout to the upside from this pattern would project a potential target around $6.24, assuming a repetition of the previous impulsive wave. This level would also align with projections based on the Elliott Wave Theory.
⚠️ It's worth noting that Elliott Wave studies were originally developed to analyze stock indices, so while they can be useful, they should be applied with caution when analyzing individual stocks.
📊 Volume: Today's trading volume remains low, indicating limited commitment from market participants so far.
📈 Key Technical Levels to Watch:
Holding the 200-period moving average (currently around $3.76) would signal structural support.
Breaking above the 20-period moving average (currently at $3.89) would suggest renewed bullish potential.
A confirmed breakout above $4.16 would further validate the uptrend scenario.
This is a technical financial analysis. It does not constitute financial advice. Please conduct your own research before making any investment decisions.
Take care!
Although Wave 4 of this Minor movement was initially expected to remain within the $3.81 to $4.11 range, there is currently no clear invalidation of the structure, as we haven't seen a retracement below Wave 2 lasting for at least three consecutive daily closes, even with a minimal percentage margin.
📉 Technical Note: A descending triangle appears to be forming within Wave 4. A breakout to the upside from this pattern would project a potential target around $6.24, assuming a repetition of the previous impulsive wave. This level would also align with projections based on the Elliott Wave Theory.
⚠️ It's worth noting that Elliott Wave studies were originally developed to analyze stock indices, so while they can be useful, they should be applied with caution when analyzing individual stocks.
📊 Volume: Today's trading volume remains low, indicating limited commitment from market participants so far.
📈 Key Technical Levels to Watch:
Holding the 200-period moving average (currently around $3.76) would signal structural support.
Breaking above the 20-period moving average (currently at $3.89) would suggest renewed bullish potential.
A confirmed breakout above $4.16 would further validate the uptrend scenario.
This is a technical financial analysis. It does not constitute financial advice. Please conduct your own research before making any investment decisions.
Take care!
Trade active
The stock it's following the analysis shared in the last two studies published. Keep an eye on it ! ;)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.