BB is a long candidate; entry preferred after volatility bandwidth decreases to allow tighter stop placement.
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The once-proud pride of Canada, Blackberry. Blackberry has dropped back to the year-to-date VWAP, that orange line, and you can see that there are buyers along that line. And while that was happening, we saw that the 20-day moving average, the red line, has flattened and gone up, and the 50-day moving average is also going up.
We are seeing an increase in volume here; something is going on. They have just announced their profit figures, by the looks of it.
My problem with Blackberry is that we are seeing an ever-increasing bandwidth here, and if things calm down a bit, then I think that, even though it is Tuesday today, it might rise further on Thursday or Friday of this week.
Or, if you want to buy here, your absolute worst-case scenario is to fall below yesterday's low, because that was quite a washout. But that was a large percentage movement, so I would prefer to see the bandwidth decrease, so that I can place a stop-loss somewhere below a level like this. So Blackberry is on the long side,
What this channel has said about $BB
Brian Shannon has only this one call on this stock.