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by Stella Osoba, CMT
Blackberry Limited (BB), formerly called Research in Motion, was founded in 1984. In the last decades of the twentieth century, the company led the mobile and pagers industry with its iconic blackberry phones.
Position: N/A
Stella Osoba, CMT
Stella Osoba is a trader and financial writer. She is a frequent contributor to "Technical Analysis of Stocks and Commodities" magazine and "Traders.com Advantage" as well as other financial publications.
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TECHNICAL ANALYSIS
Blackberry's Revival
01/02/25 11:47:53 AMby Stella Osoba, CMT
Blackberry Limited (BB), formerly called Research in Motion, was founded in 1984. In the last decades of the twentieth century, the company led the mobile and pagers industry with its iconic blackberry phones.
Position: N/A
| In the 2010s, the iPhone and Android quickly consumed Blackberry's market share leading to the demise of the blackberry phone. Though Blackberry withered and shrank, it never really went away. Today it seems that Research in Motion, now rebranded as Blackberry, has begun to attract investor interest again. Its focus now is on software, specializing in cybersecurity. |
| In June 2008 (not shown on chart), BB was trading at over $130 per share. Price began its decline soon afterwards and it has been long and unrelenting. The share price did not reach its low until August 2024 when it traded at a low of $2.01 per share. |
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| Figure 1. Daily chart for BB. |
| Graphic provided by: StockCharts.com. |
| |
| Figure 1 is a daily chart of BB showing one year of price history. From about June 2024 to December 2024, BB looks to be forming a rounded bottom. Price broke out on December 9, 2024 on heavy volume and proceeded to spike upwards (see Figure 1). The bullish golden cross occurred shortly afterwards. A golden cross occurs when the 50-day moving average crosses the 200-day moving average from below. |
| The sharp price move upwards means that BB's price has almost doubled in less than a month. The most astute thing for an interested trader to do is to watch the chart and see what price does when it reacts. A healthy reaction would be less than half of the prior price movement on low volume. Otherwise, it might be best to stay away and let the meme stock traders continue to take control. |
Stella Osoba is a trader and financial writer. She is a frequent contributor to "Technical Analysis of Stocks and Commodities" magazine and "Traders.com Advantage" as well as other financial publications.
| E-mail address: | stellaosoba@gmail.com |
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