Blackberry overview - Getting close to breakout?Here is a quick look at BB on TSX.
Over all, its looking like a triple nest, that's approaching the downtrend line from the Jan 27th and June 3rd highs. We're about a month away from crossing it if we stay in this prize zone, but with earnings coming up next week, we could see some action if the numbers are positive.
I don't like to think of this as a meme stock, and I don't keep up with the short squeeze possibility on BB, so DYOR if that's what you're hoping for. I'm just looking at this with an Elliot Wave analysis overlain on a pitchfork. I really like the pitchfork because its held up key fib levels.
There is a possibility that wave 2 isn't in yet and we could head to 11.19...that's where we find the 1 period on the pitchfork and a previous resistance shown in red, but i don't think we will break ~12.65 unless earnings is a real dumpster fire. Note the increase in volume on Sept 17, which is quad witching.....could be a good indicator that flow is positive into this name for the next quarter.
Worth a shot with a buy here around $12.80, SL at 11 and PT1 at 19.75 and PT2 at 25.90, a potential 3.77-7.05 R:R.
