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Christian Tharp, CMT

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Product Performance

Five Star Stock Watch: BlackBerry Limited

As most technology followers know, BlackBerry has gotten its lunch eaten by the likes of Apple, Nokia and Samsung, just to name a few. The stock has certainly reflected that over the last three years.

However, it does appear the BlackBerry's stock has shown an ever so slight sign of life over the last month, which the chart below will demonstrate.

Related: Five Star Stock Watch: Twitter

The company: BlackBerry Limited

Ticker Symbol: (NASDAQ: BBRY)

Sector: Technology   

Industry: Diversified Communication Services

BlackBerry Limited engages in the design, manufacture, and marketing of 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.

 

Please take a look at the one-year chart of BlackBerry below with added notations:

As stated earlier, the years haven't been kind to BlackBerry and 2013 was no exception. After breaching below $6 in early December the stock has managed to mount a decent rally, albeit it in the context of an overall lower move.

The break through trendline resistance in late December was the first sign the BlackBerry's downtrend should be stalling, and since that break the stock has rallied over 30 percent. A push above the level of $8 should give way to another step higher for the stock.

Related: Five Star Stock Watch: Priceline

BlackBerry 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!

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Tags: Five Star Stock Watch

Posted in: Long Ideas Short Ideas Technicals Trading Ideas