As you may have noticed, I’ve been something of a true believer in the ongoing John Chen turnaround story for Blackberry (still wish they’d change the name to Research in Motion). I’ve been holding BB and rarely look at it. But this morning I took a look and saw a daily Cup & Handle pattern and so…
NFTRH+ being a TA entity, here it is for your consideration (and DD). It exited the Handle last week and turned the MACD up (though it’s still trying to go positive (0+). RSI (14) is above 50 and looks okay. The price is clinging to the SMA 50, which I’d like to see hold for this setup to feel lower risk. The SMA 200 is down there at 9.50, after all. Either way, BB is in an intermediate up trend (SMA 50) and longer-term up trend (SMA 200).
I am not going to list formal buy and stop loss levels because the thing can drop all the way to the SMA 200 at 9.50 and maintain the bullish stance I am operating to (pending market stability and company fundamentals). So it would be up to you whether to try a buy at the SMA 50 or go miserly and see if 10.25 to 10.50 comes about. A drop below 10 would definitely be a negative for short-term operators, regardless of the SMA 200 below.
Here is some bigger picture perspective per the weekly chart.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.