Following up with my previous post on BBRY, i would expect price to break out above 11 Just 7 trading days ago, lots of talk are about break outs!!! Yes, it broke out twice, first is the resistance of 11.12 and then 11.63. By then, i was very ready to short because price had flied too far away from my favorite 8ema. (I am not at all worry that it might shoot higher). Price was almost 13% from 8ema.
Using a smaller timeframe, my short order where triggered at 12.10
To add salt to the wound, after being rejected from long term channel resistance extended from 2009, the previous break up has become break down. It has just been downgraded GAP down and fall back to short term downtrend channel as well as below retracement uptrend channel in green.
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short to mid term bull monthly chart it still has not touch the channel support unless the channel is inaccurate