28Sep10:44 amEST

Patience and BlackBerries Are Bitter

After a disappointing summer, it is no wonder that BlackBerry bears reverted to their war chant which has worked marvelously for many years now, decrying that BBRY was bound to go the way of the rotary phone. 

However, the company seems to be aware of its image and long-gone leadership status in tech from over ten years ago now. And they are at least giving it the old college try to reinvent themselves as a new age tech firm. 

Just this morning, for example, BBRY released earnings shortly after announcing a partnership with Delphi. Those earnings not only proved to be bullish, as they stock is soaring nearly 14% as I write this, but the prospect of BBRY being intimately involved in software for self-driving cars and smart grid tech is promising for a long-term turnaround. 

On the updated BBRY weekly chart, below, the $11.75-$12 zone is the major hurdle to clear to confirm any newfound bullishness. 

But holding back over $10 would be an excellent start and put the name back on watch for a fresh long idea. 

Patience has been extremely bitter for long-term BBRY longs. But the fruit may finally be sweet enough to justify the long wait. 

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