$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.
Tag: Software
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 $BBRY is targeting? Are they getting converts?
- Have they gain traction with the developer’s base?
- Are the existing customer base going to upgrade their BlackBerry or are they going to switch to an iPhone or an Android based phone?
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$BBRY . Below the 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.