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BB is evolving in a parallel channel. We failed to break out of the upper limit even after a positive $0.15/share surprise on EPS and an increase of 126% in net income compared to last year's report. However, the announced high revenues coming from their new activities take longer than expected to yield a profit. That is why I believe market sentiment will not ...
Push to the downside
$BB had a great ER pop. Need to chart this more.
From lows of 6.23 back in June '16 ... BB has run 133% ... topping out at 14.55 in Jan '18. Since then it has been in consolidation mode and constructing a bullish falling wedge and retraced all the way to .618 on the Fib. This is a bullish consolidation imo for the start of a new uptrend in this name.
Entry : 10.50 to 10.68
Stop Loss : 9.34
Target : 12+
Looks like correction is complete and should start recovery back to 14s.
Going back for more, it's a bit early since it takes a bit for this stock to warm up, but when it does oh BB please!!! on a daily bullish on BB get some traders!
We can see the bottom form on BB, this gives us a reasonable stop price to manage risk.
We also seen a key resistance broken at $10.17 on Friday, have not raise stop price yet.
Blackberrys current earnings report sent it free falling based on lowered guidance. It currently broke through the $10 support level and the next support level is around $8.50 or so. The RSI is in oversold territory and going back to 2014 on the daily, the RSI tends to bounce at 20 flat. I believe 8.50 would be a great buying opportunity.
I would suggest to see an entry at around 8-8.50 for a long long;)
Just my opinion so make your own research
And like always
May the markets be with us
Follow me on twitter @derfreietrader
Looking to go long BB on Break Up of inside bar.
I believe with news Tuesday BB may see a nice gain. Sell the news - you know how it goes.
Blackberry is pure cash here. Cash money baby, and has been pure cash in this historical low zone for like 6 years, basically since Apple decided to go balls to the wall.
Blackberry is up to something, and I'd definitely bet on them. Last price markup from this zone resulted in tremendous gains.
Wyckoffian logic here, fellas. Plain and simple.
Targets are in orange. Buy the thicc on volume gap. $11.50 rn is not a bad entry. unloading at first stop around $30. unload more at second orange box