Our Stock of the Week is BlackBerry (BB). BB moved to the NYSE effective today and changed its symbol from BBRY. BlackBerry is well known for its ubiquitous texting device, but it has reinvented itself primarily as a software play. The company is involved in developing navigation and entertainment centers for automobiles, security software for mobile enterprises, and it still offers a smart phone. The company is focused on commercializing its sizable patent portfolio.
The estimates came up following the last earnings report and the stock jump sharply on good volume. There is now a cup-and-handle pattern with a pivot point around $11.50. A strong move through that levels will trigger the pattern.
As always, we would not chase the open on Monday, but would look for a strong move into the close on increased volume as an indication that momentum is building. The symbol change to BB today may make quote confusing so be careful.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength, and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees and affiliates of Shark Investing, Inc. and/or principals, employees and affiliates of Shark Asset Management, Inc. (“SAMI”), directly or indirectly, controlled investment and/or trading accounts containing positions in BB To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.