BlackBerry Technical Analysis

Technical Analysis on BB for anyone interested. Total float 565m shares. Shares held by institutions (not actively traded=roughly 50%, insiders own 1.5%).. 48.5% of 565m shares is 275m shares that are frequently traded.


June 2nd saw a nice jump in SP with a close outside of the bollinger bands on 346m share volume. Mean reversion is typically expected following strong closes that finish outside or near the edge of the bands.

June 3 + 4-There were 700m shares traded on US exchange alone. Assuming there was a fair amount of profit taking on June 3rd. Important point: June 3rd and 4th were sell offs with attempts to revert to the mean… The mean currently sits at 9.78USD (middle red line in bollinger bands). They didn't even come close.. the stock still sits outside of the bands **extremely bullish. This is a massive game of hot potato right now as we've churned through the float twice (4x if you disregard shares that aren't actively traded).

Image 1: Bollinger bands revert to mean but failed


Technical analysis set up:

Image 2: shows an symmetrical triangle with declining volume as we move towards apex.

Image 3: image shows strong buying pressure @ 14 dollars as evidenced by multiple attempts to drive the price down that immediately bounced off that area. Last 1.5 days has been an attempt to slowly bleed it down to just above the buying pressure in hopes you'll sell them back your shares and help cover. Notice the friday close stopped immediately above buying pressure.

Price target–> 38 dollars USD if move is confirmed. Likely stop around 25USD though an shorts reapplied there as that's what happened in January. Can provide reasoning for price target if requested.


submitted by /u/TrickBeginning2871
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