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?