BlackBerry: A Potential Bounce Candidate

www.investing.com/analysis/%D0%93%D0%BB%D0%BE%D0%B1%D0%B0%D0%BB%D1%8C%D0%BD%D1%8B%D0%B5-%D0%B4%D0%BE%D0%BB%D0%B3%D0%BE%D0%B2%D1%8B%D0%B5-%D1%80%D1%8B%D0%BD%D0%BA%D0%B8-%D0%B7%D0%B0%D0%B2%D0%B5%D1%80%D1%88%D0%B0%D0%BB%D0%B8-%D0%BD%D0%B5%D0%B4%D0%B5%D0%BB%D1%8E-%D0%BF%D1%80%D0%B8-%D0%BD%D0%B8%D0%B7%D0%BA%D0%BE%D0%BC-%C2%AB%D0%B0%D0%BF%D0%BF%D0%B5%D1%82%D0%B8%D1%82%D0%B5%C2%BB-%D0%BA-%D1%80%D0%B8%D1%81%D0%BA%D1%83-200163019

By António Costa | Nov 06, 2016 11:28AM ET

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Put BlackBerry Ltd (NASDAQ:BBRY) on your radar next week as a possible bounce play. The 14-day RSI hit again oversold levels that have historically acted as good buying opportunities, as you can see on the chart above. The stock just had a major pullback since earnings, forming a falling wedge pattern on daily, which is considered to have a bullish bias, suggesting a potential trend reversal. However, be noted that this bullish pattern is not confirmed until the upper resistance level of the wedge is decisively broken. Therefore, if the history repeats itself once again, we could see a strong bounce higher.

BBRY Daily Chart

Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don\\\'t consider buying or selling any stock without conducting your own due diligence.

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BlackBerry: A Potential Bounce Candidate

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