Coming into the new year, BlackBerry was one of the names on my radar that I thought could double in 2014.
After a monster January, shares of the Canadian mobile services company
have been consolidating nicely below a declining 200-day moving
average. I think there’s more upside here.
First let’s take a step back and look at this from a longer-term perspective. This is the chart that got me interested in $BBRY in the first place. Here is what I saw in December:
You can see why this is my favorite setup: the false breakdown and
simultaneous bullish momentum divergence. Here is what this one looks
like today: (more)
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