Don't Ignore This Chart

BlackBerry: Will This Rally Be Any Different Than The Last Several?

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Blackberry's (BBRY) demise from 2008 through 2012 has been well documented and I'm not really interested in dwelling in that past.  More recently, however, BBRY has attempted on multiple occasions to clear price resistance in the 11-12 range.  Clearing such resistance would be technically significant and further the case for buying BBRY.  Here's the current technical view:

The blue circles above show that interest has definitely picked up in BBRY with volume the past six months much higher than at any point in 2016.  Also, the SCTR returning to the 90s is a very good sign as well.  But nothing is more important, in my view, than clearing that overhead resistance that's stymied the stock for four years.

Happy trading!

Tom

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Tom Bowley
About the author: co-founded Invested Central and served as the site's Chief Market Strategist for more than 10 years. His unique trading style combines both his fundamental and technical strategies to systematically manage risk while trading. A regular contributor to StockCharts.com's bi-weekly ChartWatchers newsletter since 2006, Tom's role at StockCharts has expanded significantly since he joined the company as a full-time Senior Technical Analyst in March of 2015. Learn More
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