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$BBRY : Blackberry trading at Ichimoku support

 

$BBRY at kumo support
$BBRY at kumo support

 

$BBRY falls with the rest of the market. It is currently trading just at the kumo support.

The kumo is thin; suggesting support is weak.

If it breaks, we are targeting a price below $13 around $12.50 as first support.

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Tech

$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

$BBRY . Below the kumo. Bearish

$BBRY-Below-Kumo-Bearish
$BBRY-Below-Kumo-Bearish

 

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.