Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Wednesday, June 26, 2013

Blackberry technical analysis - update

This is a great bullish scenario as the stock has been traded in a symmetrical triangle in the past 5 months.

The short and mid term moving averages are holding as supports while the volumes traded have been lighter and lighter as the triangle was forming.

Further more, the consolidation (triangle) was formed above a strong key area ($12.00 - $12.60) after breaking up from record lows created in September of 2012.

The first resistance is at $18.00 but the main target is in the $25.00 area. I expect acceleration when the price will end this triangle (above $15.50).

Next earnings report is due on this Friday so be careful for the large moves in price.