Nobody ever talks about Blackberry anymore so I decided to. Blackberry decided to stick around and its stock has been doing great since they refocused their efforts. They decided that their software is where it's at and apparently investors agree. They have nearly doubled since April of last year and the trend is still up even though it is down in corrected territory.
It broke out of its descending resistance line (red dashed line) a few days ago and made a bullish move on Friday. Their are two temporary daily supports at 12 and 11.11 but the true support is at 10.07. It's currently at 12.55 so the risk is pretty high at around 20% but the potential upside is far greater. Maybe trading on the hourly to minimize the risk would be a good fit in this case. I'm interested in your thoughts about this one. 2/25
It broke out of its descending resistance line (red dashed line) a few days ago and made a bullish move on Friday. Their are two temporary daily supports at 12 and 11.11 but the true support is at 10.07. It's currently at 12.55 so the risk is pretty high at around 20% but the potential upside is far greater. Maybe trading on the hourly to minimize the risk would be a good fit in this case. I'm interested in your thoughts about this one. 2/25