BlackBerry Ltd (NASDAQ:BBRY) Trading Outlook

BlackBerry Ltd (NASDAQ:BBRY) Trading Outlook

BLACKBERRY LTD closed down -0.310 at 6.740. Volume was 92% below average (consolidating) and Bollinger Bands were 25% narrower than normal.

Open High Low Close Volume___
7.040 7.130 6.720 6.740 363,454

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 6.97 7.01 7.39
Volatility: 39 31 48
Volume: 3,267,611 3,639,374 6,113,528

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
BLACKBERRY LTD is currently 8.8% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of BBRY.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BBRY.O and have had this outlook for the last 20 periods.

 

HEFFX Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period.  Generally, changes in momentum tend to lead to changes in prices.  This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20).  The Stochastic Oscillator is 53.5885.  This is not an overbought or oversold reading.  The last signal was a  buy 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas.  The current value of the RSI is 37.88.  This is not a topping or bottoming area.    A buy or sell signal is generated when the RSI moves out of an overbought/oversold area.  The last signal was a buy 30 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas.  The current value of the CCI is -88.  This is not a topping or bottoming area.  The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line.  The last signal was a sell 7 period(s) ago.

 

Shayne Heffernan Candlestick Analysis

A big black candle occurred.  This is bearish, as prices closed significantly lower than they opened.  If the candle appears when prices are “high,” it may be the first sign of a top.  If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.  Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles.  During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

Three black candles occurred in the last three days.  Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services. The BlackBerry Technology Solutions business unit consists of five units: QNX, Certicom, Paratek, the BlackBerry IoT Platform and Intellectual Property and Patent Licensing (IPPL).

 

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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