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$BBRY . Blackberry Setup for bearish move

$BBRY - Ichimoku Bearish move setup
$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:

  1. Are sales really good in the emerging markets that $BBRY is targeting? Are they getting converts?
  2. Have they gain traction with the developer’s base?
  3. Are the existing customer base going to upgrade their BlackBerry or are they going to switch to an iPhone or an Android based phone?
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Tech

$RIMM . Continues to be bearish.

 

$RIMM goes as low as $12.37 when the earnings came out before recovering to the $13 levels.

Clearly, in the earnings call, it leaves no doubt that there is very little RIMM can do.

They have missed the opportunity for both the smartphone and tablet market. And the opportunity to capture the market share (if any) continues to rapidly shrink with AAPL strengthening its position. RIMM need to contend with Google as well as MSFT and their partners (Samsung, Nokia, LG, HTC).

All of them will have sufficient cash to go against and respectively capabilities to be up against RIMM.

At this moment, RIMM is still trading under the kumo and I will continue to hold my bearish view.

Thick kumo resistance ahead is a reflection of the challenge that RIMM face. While the after hours trading hitting 12.37 shows that the support at around 12.75 can be easily breached.

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Tech

$RIMM . One more headache and its from Android.

$RIMM has a nasty downtime on their BlackBerry service in Europe. This does not come at a good time.

For a company that place so much emphasis on its secure services, any downtime of such nature is not acceptable.

And if iOS and its secure iMessage is still not a strong enough threat, RIMM has a new competitor (in the form of Android).

Fast Company just reported that the Germans have a new project focused on making Android’s security the key focused. It comes with plans to work with corporate IT teams and partners to install, update or delete smartphone apps without going through app stores.

In a nutshell, a lot of what it attempts to do will marginalise RIMM further. The competitive moat that RIMM has for BlackBerry is being eroded at a much faster pace.

Remember MS Windows and the story of Linux? That is a huge market share that MSFT fail to hold on to.

The combination of iOS and Android is repeating history again. They are going to increase market reach, capture new markets all at the expense of RIMM.

Note:

Vested with a bearish bias.