Originally Posted by
morganplus8 Hey Charles!!
We tested the lows from Friday, found support at the 8-month uptrend line and rallied above the 50-dma and the 5-dma on light volume. We had been down for 4-days and it was time for a reflex rally here. We drifted back, like many other stocks, towards the close. We will probably drop back to the 5-dma and the 50-dma ($ 14.85 area), find support and rally above $ 15.00/shr where there is some decent resistance at $ 15.25 - $ 15.30/shr., as we have witnessed so many times before. This was a great day for BBRY, a reversal that will take us to the top of the pennant again. What it will take to get us to break out of this narrowing range is beyond me. I would think we need a contract announcement or some decent, factual news, not the countless articles we read every other hour from the websites. Let's see what we look like at $ 16.00/shr, there is no timetable to get there, we have just turned bullish again on no news. After tomorrow, I'll be able to develop a trading range, I need another day of trade here!