Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
BlackBerry Ltd BBRY shares are unchanged at $10.20 in Wednesday's session. This time traders rushed into the issue over a recap of recent articles tapping Apple Inc. AAPL as a potential suitor.
In true BlackBerry fashion, it spiked off the old story to $10.39, but is back at unchanged. Interestingly, the rally did not even have the momentum to reach the pair of highs from Monday ($10.55) and Tuesday ($10.51). Those highs coincided with a series of six highs from $10.38 to $10.45 in the issue from April 23 to April 30.
In addition, that area encompasses the upper-end of a trading range between $9.63 and $10.55 since April 15. Last week, BlackBerry appeared to be heading towards the lower end of the range, but four consecutive lows between $9.71 to $9.78 provided a base to launch a rally back into the $10 handle.
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