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- 1 BB stock price breaks out of $5.00 with a strong buying volume.
- 2 BlackBerry stock price sustains above the 50-day and 200-day EMAs.
- 3 BlackBerry Limited stock is trying to break out of the higher range.
BlackBerry Ltd. BB stock price rose by 7% in the previous week and breaks out of the $5.50 hurdle. It is rising upward by forming higher high swings which showcases that the bulls are returning back to track.
BlackBerry stock price is trading above the 50 and 200-day EMAs. This indicates that the short term as well as positional trend has reversed upward.
Recently, BB stock witnessed a sharp rise in the buying volume and prices also followed the same direction. It shows that some genuine investors have turned bullish and might have taken long positions. Later, the buying volume decreased but prices are continuing the positive momentum.
BlackBerry stock price reached the $5.58 level which is acting as a strong hurdle for the bulls. The stock prices had rallied a lot in the past 2 weeks. Consequently, minor retracement or a narrow range consolidation is possible before deciding on the direction ahead.
If the BB stock price retraces downward, then $5.00 will act as a buying zone and fresh buyers might come forward to push the prices higher. BlackBerry stock price closed the previous session at $5.58 with an intraday decline of -0.36%.
Will BB Stock Price Continue the Positive Momentum?
BB stock price showed a surprising recovery from the lower levels and created a positive outlook for its investors. However, it will be interesting to see whether the buyers are able to break the previous swing high or not.
As long as BlackBerry stock price sustains above $5.00, the possibility of continuing the upward momentum remains high.
However, the next phase of the rally in BB stock will trigger when buyers are able to break the $6.20 hurdle. On the other hand, If the BB share price drops below $5, then the bears might pull it down to previous lows.
Is the Recent Up- Move Reliable BlackBerry Stock?
BlackBerry stock price formed a strong bullish candle in the past 2 weeks. It engulfs the losses of the past 4 months and attempts to break the $5.70 hurdle.
The recent upward move in BB stock looks reliable and the probability of a breakout remains high.
The MACD curve displays a positive crossover and is sloping upward. It indicates the strength of the bulls. The RSI at 71 is in the oversold territory and consequently, a short-term retracement to the EMA is possible.
Conclusion
BlackBerry Ltd. stock price rose by 7% in the previous week. It indicates that bulls are getting active and also suggests that continued upward momentum is possible.
The analysis suggests that BlackBerry stock has turned bullish so the probability of reaching $6.00 in September remains high.
Technical levels
- Resistance levels: $6.00 and $6.23
- Support levels: $5.00 and $4.29
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
