BlackBerry Didn’t Quite Cross the Border

BlackBerry endured a rough late-June and July selling period.

However, looking at the updated weekly chart, below, the key for bulls was defending $8.50, the scene of the primary breakout after a steep, multi-year downtrend and basing pattern. And that continues to be the border between constructive and bear, in my view.

On shorter-term timeframes, if the stock can convert $11 into support, then a gap-fill up to $13.50 becomes viable.

See Also: Listen to Research in Motion’s Dying Declaration and Figuring Out the Shelf Life of This Fruit

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