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
About the author:
Tom Bowley is the Chief Market Strategist of EarningsBeats.com, a company providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to EB.com members every day that the stock market is open. Tom has contributed technical expertise here at StockCharts.com since 2006 and has a fundamental background in public accounting as well, blending a unique skill set to approach the U.S. stock market.
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