What is Blackberry hiding?

After forming a 5-month Inv H&S Bottom last year with a successful breakout in November, Blackberry has more than doubled in value. Now, on a weekly chart, the stock has formed a possible 18-month Inv H&S with a neckline at 18.32. Notice that the current right shoulder has coiled into a wedge. A break out of the wedge and a close above 16.60ish will be an initial signal for more upside, whereas a clearance of the neckline will have a target of $30.

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Blackberry Weekly


One Comment on “What is Blackberry hiding?”

  1. […] to wait for a breakout and not to jump in before the pattern is completed. Earlier post is over here . Although its technical still a valid H&S Bottom its a loooong way now from the neck at […]

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