Facebook Patent Lawsuit Settlement - Bullish technicals

On January 15, 2021, "BlackBerry Ltd. said it's settled a dispute with Facebook Inc. over patent royalties for terms that weren't disclosed." We don't know how much money they are receiving from Facebook, but Blackberry has also announced that they are pivoting their business operations to that of EVs and Artificial Intelligence after having sold off its mobile line. This could be a very interesting setup from a fundamental perspective and may be the beginnings of a turnaround in the company. The recent technicals have been indicating massive buying volume. Please note the bullish engulfing candle from yesterday's session on Friday. If you zoom out on the weekly chart, $15 is a critical resistance area which upon broken, can take the share price to the $18-20 area. This is a medium risk high reward set up in our opinion. LONG.

Comment:

Weekly view: