$BBRY – Ichimoku Bearish move setup
The Ichimoku chart is showing a good setup for $BBRY.
Currently, it’s closing price is at $16.67.
On the Ichimoku Daily Chart, a bearish cross seems to be forming and the thin kumo support below suggest weak support below.
A break from this level will give us a target of $12.50
Some catalyst to consider:
- Are sales really good in the emerging markets that $BBRY is targeting? Are they getting converts?
- Have they gain traction with the developer’s base?
- Are the existing customer base going to upgrade their BlackBerry or are they going to switch to an iPhone or an Android based phone?
BlackBerry ($BBRY) has officially drop below the kumo support.
While the movement was not a huge one, the challenge will be for it to go above $15 level. So long, as it is under $15 over the next 1-2 months, the bull trend will not be established.
The next target should be towards $10.
$SPX Ichimoku bearish-cross March 1,2013
Premarket. $SPX (/ES) is trading at around 1506 level.
On the Ichimoku chart, both the Tenkan sen and Kijun sen have touch each other.
If it close below 1506.63, /ES would have confirmed a bearish cross with a target of 1484.