2waytrading
Long

200-Day Moving Average attracted a lot

NASDAQ:BBRY   BLACKBERRY LTD
149 0 1
Trading is a tough business but when u know institutions wait for the price to move above or below certain areas either to sell or buy last Friday $BBRY came to the spotlight and finally reclaimed its 200-day moving average but also two other important moving average 20/50-day moving average . The volume also was another factor that you need to respect hitting 45 million though it was earning report day of which short sellers were caught off guard, but it is more than short covering rally. The price indeed closed above multiple months high but also multi-years support line where bears knocked out bulls for their final defense line. It looks price is ready to form a cup and handle next few months before it breaks out to 40% upside move. Now, a good time to start accumulate and adding more once that pattern is complete sometime next Feb or next earning. Real-time alerts try us www.2waytrading.com
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