Hello fellow Blackberry enthusiast. We've had two false breakouts with Blackberry and the question is this the third with the new Blackberry really a long term breakout back to all time highs under Chen or just a nice bounce. Time and market conditions will tell. The daily charts have had a wicked battle between longs and shorts that have supported the thesis that blackberry is comfortably trading in the 10-11 dollar range. Price action generally overnight and premarket tanks past any day gains and indicates that bullish sentiment is finding stiff resistance against bearish speculation.
For bullish investors the Blackberry charts are slowly and positively moving back to test prior days highs. Currently the price is around 11.30 which as trend lines indicate is bullish sentiment in the short term and possibly long. Increasing speculation over the positive long term value of the stock including WSB has given both momentum to long and short speculation. Current trends continuing with several days above 11.06, then 12.26, and 13.07 would be a possible strong bull catalyst for a retest of all time highs. BB may simply be making higher highs and higher lows as it coils upward. Bearish speculators would likely want to short around these key levels to retest lows much as they did after uptrend 1 and 2. Fridays close should give a good guidance on possible direction in short and near term.
Bullish long term price targets would be the yellow marked levels. MacD and RSI trends seem to be indicating a strong bullish scenario but it is corollary to the wider Nasdaq which has proven to be bearish for much of February and March.
Long term targets could be as high a retest of the historic blackberry highs of 32.70, 68.64, and 125.07. It should be noted those prices are reflections of a dramatically different business model and may prove to be more conservative given the difference between the business models of the historic Blackberry before Chen and the new Blackberry after Chen. More bullish investors that believe the new Blackberry under Chen should be roughly equivalent peer to Crowdstrike CRWD at 196.88 or VMWARE at 147.32 at the time of this writing will have to prove it by increasing investment in the stock including short and long term bullish speculators and of course not only hitting but maintaining those price targets over extended periods. Volatility will increase as the price increases. Time will tell if the new Blackberry can re-capture Wallstreet investors and advisors higher price targets as it has Main street investors.
Not investment advice. For entertainment and education purposes only.
For bullish investors the Blackberry charts are slowly and positively moving back to test prior days highs. Currently the price is around 11.30 which as trend lines indicate is bullish sentiment in the short term and possibly long. Increasing speculation over the positive long term value of the stock including WSB has given both momentum to long and short speculation. Current trends continuing with several days above 11.06, then 12.26, and 13.07 would be a possible strong bull catalyst for a retest of all time highs. BB may simply be making higher highs and higher lows as it coils upward. Bearish speculators would likely want to short around these key levels to retest lows much as they did after uptrend 1 and 2. Fridays close should give a good guidance on possible direction in short and near term.
Bullish long term price targets would be the yellow marked levels. MacD and RSI trends seem to be indicating a strong bullish scenario but it is corollary to the wider Nasdaq which has proven to be bearish for much of February and March.
Long term targets could be as high a retest of the historic blackberry highs of 32.70, 68.64, and 125.07. It should be noted those prices are reflections of a dramatically different business model and may prove to be more conservative given the difference between the business models of the historic Blackberry before Chen and the new Blackberry after Chen. More bullish investors that believe the new Blackberry under Chen should be roughly equivalent peer to Crowdstrike CRWD at 196.88 or VMWARE at 147.32 at the time of this writing will have to prove it by increasing investment in the stock including short and long term bullish speculators and of course not only hitting but maintaining those price targets over extended periods. Volatility will increase as the price increases. Time will tell if the new Blackberry can re-capture Wallstreet investors and advisors higher price targets as it has Main street investors.
Not investment advice. For entertainment and education purposes only.