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- 1 BB stock price lost 2.05% intraday, breaking the rising channel.
- 2 Blackberry is scheduled to report its Q4 earnings on March 30, after the market closes.
- 3 Blackberry and Adobe announced a strategic partnership last week.
Blackberry is scheduled to roll out its fourth quarter earnings report on March 30, prior to which BB stock price loses 2.05% intraday. The stock is witnessing bearish momentum running up to the report, indicating investors’ shallow hopes. The company announced to sell the majority of its patent portfolio earlier, relating to which there will be several focal points in the Q4 fiscal 2023 results. The focal points will cover FY24 guidance, Q4 shortfalls, and additional details on patent sale.
Blackberry and Adobe Join Hands
Last week, reportedly, Blackberry and Adobe announced their partnership to deliver a secure forms solution for mobile. The software solution, which is a combination of Blackberry UEM and Adobe Experience Manager Forms, is created for popular mobile platforms. It also fulfills the security standards required by regulated industries.
The partnership agreement allows Blackberry to resell Adobe Experience Manager Forms software. This solution is available to customers using Blackberry UEM and Blackberry Adobe Experience Manager Forms. In this solution, Blackberry manages public key infrastructure certificates in order to secure the connection to Adobe. This allows the user to complete and electronically sign documents without a VPN.
BB Stock Price Analysis
BB stock price fell by 2.05%, breaking the rising channel, prior to the Q4 reportings. The fall in price is accompanied by a declining trading volume with selling pressure. The BB stock price faces rejection at $4.00, and fails to break the 0.382 level of Fib retracement. The price escapes the declining streak and can test the support near $3.50.
The drop in BB stock price halted the rally and hampered the bullish momentum. The RSI dropped to the 50-range, matching the pattern in the price action. The MACD forms a positive divergence and records minimal buyer action. The indicators give out mixed signals and can only be cleared after the reports are released.
Conclusion
BB stock price falls in the intraday session and breaks the rising trend. Blackberry is scheduled to release its fourth-quarter earnings on March 30. The strategic alliance between Adobe and Blackberry will take time to positively influence BB stock price. The alliance is aimed to provide secure form solutions for mobile devices. The partnership can have a long term effect on the stock price and company’s financials. The holders can watch out for the support near $3.50.
Technical levels
Support levels: $3.50 and $3.20
Resistance levels: $4.00 and $4.80
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
