- 1 BlackBerry Ltd. BB stock price surged 18% in the last session.
- 2 BB stock price (NYSE: BB) climbed above the 50-day and 200-day EMA.
- 3 BlackBerry stock breakout of the $5.00 hurdle.
BlackBerry Ltd. BB stock price jumped 18% in a single day and formed a giant bullish candle. The buying volume rose as well which further boosted the confidence of the investors.
BB stock price managed to climb above the 50-day and 200-day EMA. It showcases the initial signs of a bullish trend reversal and buyers seem to be returning back to track.
BlackBerry stock price defends $4.28 support and takes a sharp U-turn. It indicates responsive buyers are active at lower levels. If broader market sentiment trades with a bullish bias, then BB stock may be positively impacted.
BlackBerry Ltd. (NYSE: BB) released the previous quarter earnings on June 28, 2023. It beats the EPS estimates by 196.18% and revenue estimates by 132.77%.
BB shares reacted positively and shot up 7.00% approx. It hit a swing high at $5.73 but buyers failed to hold the higher levels. Later, prices reverted down and dropped below the $5.00 which invites further decline.
The downfall in the BlackBerry stock prices halted near $4.28 and began to recover. BB shares closed the previous session at $5.23 with an intraday rise of 18.06%. The market capitalization stands at 3.06 Billion.
Will BlackBerry Ltd. Stock (NYSE: BB) Be Able to Hold $5?
BlackBerry Ltd, BB stock price is in the recovery phase and breaks out of the $5.00 hurdle. The breakout looks reliable but it will be interesting to whether BB shares are able to sustain the $5 or not.
Till BlackBerry stock holds the 50-day EMA the prices are expected to remain in bulls grip. Moreover, the next phase of the rally will trigger when buyers are able to break the $5.73 hurdle.
On the other hand, if the BB shares face rejection and drop below the 50-day EMA. Then, the recent upmove will be considered a trap.
BB Stock Price Formed Bullish Reversal Pattern
BB stock price engulfs the losses of the past 6 weeks and regains the 5.00 mark. It formed a bullish reversal pattern on daily and weekly time frames.
The confirmation of a trend reversal in the BlackBerry stock will come when prices hold the $5 level in the coming weeks.
The MACD curve in BB shares generated a fresh positive crossover and the histogram bar is green. It shows share prices might continue to trade with a mild bullish bias. The RSI at 65 slopes upward denotes the strength of bulls and more upside is possible.
BlackBerry Ltd., BB stock price jumped 18% in a single day and created hope for the investors.
Till BlackBerry stock (NYSE: BB) sustains above the 50-day EMA, the share prices might rally to $5.73. However, if the prices drop below the 50-day EMA, then the recent rally will be considered a bull trap.
- Resistance Levels: $5.73 and $6.42
- Support Levels: $4.28 and $3.43
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.