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

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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