BlackBerry may fall to 1.68 - 1.83

Our pivot point stands at 2.76.

Our preference

The downside prevails as long as 2.76 is resistance.

Alternative scenario

The upside breakout of 2.76 would call for 3.04 and 3.22.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 2.7845 and 2.8722). Finally, BlackBerry has penetrated its lower daily Bollinger band (2.48).

Supports and resistances

3.22 **

3.04 *

2.76 **

2.64

2.34 (USD-last)

1.99

1.83 **

1.68 *

1.52 **

Number of asterisks represents the strength of support and resistance levels.