Five Star Stock Watch: BlackBerry Limited
No matter how often it appears Blackberry is out of the game, at some point the company's name will come up again.
This week was one of those times as analysts and the CEO made appearances on CNBC to discuss the prospects for the company.
What about the stock though? What are its prospects, and should you be looking to invest in it?
Check out the breakdown of the stock below for some potential answers to those questions.
The company: Blackberry Limited
Ticker Symbol: (NASDAQ: BBRY)
Industry: Diversified Communication Services
BlackBerry Limited designs, manufactures, and markets wireless solutions worldwide. It provides platforms and solutions for access to email, voice, instant messaging, short message service, Internet and Intranet-based applications, and browsing through the development of integrated hardware, software, and services.
See also: Five Star Stock Watch: General Motors
Its products, services, and embedded technologies include the BlackBerry wireless solution, the BlackBerry Wireless Handheld product line, the BlackBerry PlayBook tablet, software development tools, and other software and hardware.
Please take a look at the chart of Blackberry Limited below with added notations:
Although Blackberry has had a rough year or so, the stock has actually recovered quite a bit since its December low of around $5.50. The important thing to notice is that the stock has now approached its trendline resistance that currently sits near $10.
The other level to watch would be the $9 support that the stock has been holding for the last month or so. Blackberry will have to break either the trendline resistance or the $9 support at some point and it is that break that should dictate the stock's next move.
See also: Five Star Stock Watch: Ford
Blackberry Limited isn't set to release earnings until the end of March 2014.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Five Star Stock Watch