Prices are consolidating in an upward pattern. A break thru 16.01 with volume would be a good buying opportunity. Conversely, if it fails to hold 13.98, you should consider taking a short position. A break of 13.69 with volume would be the entry point. As the price continues to get squeezed, the greater the likelihood of a large move in either direction.
Since there are so many traders short of BBRY, I'd say there is greater upside potential. A short squeeze could send the it north of 18.04 which would give it plenty of room to run. Conversely, it doesn't have much support below the current levels, it could fall hard and fast without any catalysts to turn it around. 10.84 and 9.08 would be the downside targets.
Since there are so many traders short of BBRY, I'd say there is greater upside potential. A short squeeze could send the it north of 18.04 which would give it plenty of room to run. Conversely, it doesn't have much support below the current levels, it could fall hard and fast without any catalysts to turn it around. 10.84 and 9.08 would be the downside targets.