BlackBerry is attempting a spring-and-back-test-of-spring at the bottom of the range that it's been trading within since 2012, and the level happens to align with the PCZ of a huge Bullish Deep on the left, to which it has reacted once before, and on its way to testing the zone a second time and back testing the spring. It's also formed a smaller, more localized Bullish Deep Gartley with some hidden Bullish Divergence on the MACD. If it manages to get back above $5 and stay above $5 in the active session, we would then have room to see it pump all the way up to $24.89 really fast as that is the next major level above and near the 200-Month SMA, but if things really want to get serious, we could see BB complete a Full Measured move of this range which would take it all the way up to the 50% retrace up at around $45.39
@RizeSenpai, What do you think the impact of BB paying off their debentures will be? Do you think itll be smarter to wait & see?
RizeSenpai
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@BB21k, I was unaware of this but upon looking into it that actually sounds great. One of the things I dislike the most about certain companies is the amount of debt they are carrying into high interest enviornment especially long term debts as it really can have a huge impact on their interest payments. So the fact that BB is taking steps to reduce that burden makes it a step above many of the other companies out there especially. One can only hope that this gives them an advantage as interest rates rise and that they can just focus on generating revenue from here as what i'd cosnider to be a value stock.
BB21k
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God bless <3
BB21k
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Ty
BB21k
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What do you think a good bottom to load the boat would be?
RizeSenpai
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@BB21k, I think Blackberry is in a posiiton to have some major upside, the problem seems to be the macro at the moment. I however do think it is still worth buying BB. I think the Next level for a Major buy is $3.46-$3.30 as there is confluence between the 0.886 and 1.618 Fibonacci Retraces in that area. Other than that we will have to wait and see. The options chain for blackberry does look pretty cheap right now. gettign some longer term calls at around 4-5 Dollars could be a way to get some cheap exposure without having to risk a a lot in buying as many shares if any at all.
Thanks again for the coins :p
BB21k
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Thanks for the awesome chart, does this drop today make this setup invalid?
RizeSenpai
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@BB21k, Thanks for the coins. As for the invalidation of the setup, I'd say no. If you are in the mood to attempt to front-run it, I'd say even now would be a good time to enter, as $4.40 seems to have become a moderately important level of interest. If we can get above $4.40 in the next couple of weeks, we could easily see it go to $5.00 again. As for the most important level, I'd say $5.00 is still the biggest level we have on a monthly basis, and now that we are underneath $5.00, we have more interest building, and if we are to get back above $5.00 after spending this time below it, that is when I could see BB making some of the big impulsive moves to the upside assuming that the macro doesn't take a toll on it.