A Late-Winter Update on BlackBerry

With two weeks to go until its next earnings report, BlackBerry continues to flash technical signs of improvement on all timeframes. 

A cursory glance at the BB daily chart would reveal price currently basing at a rising 50-day moving average, and operating well above rising long-term moving averages, to boot. The major moving averages are generally rising and properly-aligned, which is why something BB bulls could not claim for many years amid disastrous price action and heart-breaking earnings selloffs. 

However, we know it has now been a full year since BB printed a low of $6.65 and then more than doubled in price ever since. 

On the weekly chart, below, what seems to be most significant is that the $11.80/$12 area has converted from stiff resistance (a brick wall, at times), has now become solid support into dips, denoted by the light blue line. 

We have taken a look at, and tracked, other tech turnaround plays like SNAP TWLO TWTR, but BB has essentially reinvented itself as a business, as they find themselves at the epicenter of some hot and growing segments in lieu of being what most still consider them to be: A victim of the smartphone wars from late-last decade. 

Earnings on March 28th will be yet another big battle. However, they are always big battles, and the more important point is that BlackBerry bulls continue to be well on their way to a brand new bull run, Microsoft (or another whale) buyout or not.