BB trade ideas
Correction Coming For Blackberry ($BB)
NYSE:BB
** By no means is this financial advice, just stating my viewpoint on this security. **
I see no fundamental nor logical reason for BlackBerry to experience any sort of outbreak in price action at any time in the foreseeable future. Though BlackBerry has made quite a few notable acquisitions & partnerships, the company is treading in territories where it'll face extreme competition.
With the company's annual performance from 2020-2021 showing:
- A 25% decline in revenue and an expected 10% fall this fiscal year.
- A 626% fall in net income
- A 745% fall in its profit margin
And multiple other factors lead me to say this security is currently overvalued and we will see it fall hard in the coming weeks. The surge in price action we seen this past trading week for BlackBerry had no reasonable nor fundamental backing and in the coming week(s) we will see a sharp decline in price.
As we've seen before back in January, BlackBerry had a massive increase in price, but it did not hold those levels for too long before the correction happened, and the price returned to single-digit levels, falling down roughly 73% before the end of March.
** Once again none of this is investment advice, just wanted to state my views on where BlackBerry may be headed in the coming weeks/months. **
Happy trading everyone & have a great weekend!
Possible Breakout for $BB next week"Meme" Stock are in right now, but could they be fading away??
I see a possible symmetrical triangle forming with an underlying channel which could potentially influence a breakout into next week with enough volume. If Blackberry can reclaim 16.50. I think we can start to see the move back up to 18.00+. We are seeing a lot of sideways action at the moment, it is healthy for the stock to consolidate in the range given yesterdays breakout.
I am keeping a tight mental stop loss at 14.
**Not financial advisor**
If you have any suggestions or advice Im all ears, I am new to publishing my charts.
Trade Idea💡: Ticker (BB) Black Berry 🚀Ticker: (BB) Black Berry : Eyes on BB Above 16.25 with volume .
✅As you can see here we have formed a bullish pennant on the 1 hour backed with strong volume .
The red spinning top at supply closed with over 144 million volume . After a healthy retracement to
the downside, we were able to find support just below the 9MA (blue curve) where we formed
an engulfing bullish pinbar .
✅We also have a double doji inside holding the 9MA (Circled Angle). This tells me that a big move to the upside
or downside is approaching. Based upon the previous trend and unusal order flow. I am anticipating
a strong impulse to the upside in the near future.
✔️Confirmation: I would like to see BB gain strong volume above 16.25 for an upside move to 18.
🎯Anticipated Targets & Stop loss:
Target 1: 16.25
Target 2: 16.50
Target 3: 17.00 - 18.00
Stop Loss: 15.75
🤝Contracts:
High Risk- 17.5 BB 06/04 EXP
Low Risk - 15 BB 06/11/21 EXP
Ticker: (BB) Black Berry - Swing Trade Idea: June 3, 2020 🚀Ticker: (BB) Black Berry : Eyes on BB Above 16.25 with volume.
✅As you can see here we have formed a bullish pennant on the 1 hour backed with strong volume.
The red spinning top at supply closed with over 144 million volume. After a healthy retracement to
the downside, we were able to find support just below the 9MA (blue curve) where we formed
an engulfing bullish pinbar.
✅We also have a double doji inside holding the 9MA (Circled Angle). This tells me that a big move to the upside
or downside is approaching. Based upon the previous trend and unusal order flow. I am anticipating
a strong impulse to the upside in the near future.
✔️Confirmation: I would like to see BB gain strong volume above 16.25 for an upside move to 18.
🎯Anticipated Targets & Stop loss:
Target 1: 16.25
Target 2: 16.50
Target 3: 17.00 - 18.00
Stop Loss: 15.75
🤝Contracts:
High Risk- 17.5 BB 06/04 EXP
Low Risk - 15 BB 06/11/21 EXP
$BB Analysis & Predictions Based on Parabolic Squeeze MomentumWith BB now reaching a new high since the previous January squeeze, the level reached was approximately near the $20 Level, or the 61% Retracement level. It is now currently using the 50% retracement level of $17 as support for a potential next leg up. If parabolic movement continues in the "meme stocks" , you can look for your next targets of resistance levels near $20 (61% retracement) and then $24 (78% retracement).
The zones are as shown on the chart, shows how these fibonacci retracement levels play a significant role in determing support and resistance on 1D chart.
My position on this was strictly options, I purchased so called YOLO calls on Tuesday of this week
6/4 $16 Calls - 0.86 /c
as well as yesterday at the close purchased
6/11 $20 Calls - 3.30 / c
Sold the June 4's for 4.85 at the open today, cant complain about that gain and they expire soon, and I will hold these $20 calls for next week if the current support zone holds.
GLTA, follow for more
$BBBlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company leverages artificial intelligence and machine learning to deliver solutions in the areas of cybersecurity, safety, and data privacy; and endpoint security management, encryption, and embedded systems. It offers BlackBerry Spark software platform that includes a suite of security software products and services comprising BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces solutions; and BlackBerry Spark SDK to promote the evolution of a platform ecosystem by enabling enterprise and independent software vendor developers to integrate the security features of BlackBerry Spark into their own mobile and web applications. The company also provides BlackBerry Internet of Things (IoT) solutions, including BlackBerry QNX, BlackBerry Certicom, BlackBerry Radar, BlackBerry Jarvis, BlackBerry AtHoc, BlackBerry Alert, SecuSUITE, and other IoT applications. As of February 28, 2021, it owned approximately 38,000 worldwide patents and applications. The company has a partnership with the University of Windsor to develop and deliver a cybersecurity curriculum for the university's graduate master's program in applied computing; and an agreement with Amazon Web Services, Inc. to develop and market BlackBerry's IVY, an intelligent vehicle data platform. The company was formerly known as Research In Motion Limited and changed its name to BlackBerry Limited in July 2013. BlackBerry Limited was incorporated in 1984 and is headquartered in Waterloo, Canada.
$BB Short Term Options PlayFollowing the other meme stocks, I expect BB to show similar price movement to AMC. Purchased some $11 calls on Friday for a retracement move towards $13 with other meme stocks moving upwards. Speculative lotto play if anything. Heavy volume premarket, and gives a lot of retail trader exposure being a low priced stock with relatively low premiums in comparison to AMC and GME
