Blackberry Trading Range

Hey there chartists,

Here charts for the Blackberry Stock Price and options . For a better analysis it is good to look at a stock from different points of view. So that is why i want to look at the stock chart, the put and call option charts.

Blackberry Trading Range

BBRY6-19

After yesterday’s great rally, BBRY hit the upside of the Blackberry Trading Range. Resistance represented by the red lines, the upper volatility bands and the upper yellow channel line at around $15. Support represented by the green lines, the lower volatility bands, the yellow lower channel line and both the 15 and 60 period moving average(red ma lines). So fair to say that support is very strong at $14.25.

BBRY call option chart

BBRYcall6-19

The option price did not quite hit the $2 mark yesterday but made a nice move anyways. Clearly hit resistance(red lines) and so chances for a stall here or a pullback are quite good. Expiration of this option is on Friday so there is not much premium in the price left. Time to start looking at the July options, of course with the earnings report next week the July options may get pricey because of the earnings report speculation.

BBRY put option chart

BBRYput6-19

The put options are very close to support(green lines) at about $1.10 with resistance(red lines) at around $1.70.

Conclusion

What we see today clearly is a Blackberry Trading Range. Yesterday’s nice rally sets the stage for a pullback to support(green lines) and perhaps we will see the forth and back till the earnings report(June 28) when the Blackberry Stock Price finally makes up its mind.

Author: tedvanderende

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