Technical Levels To Watch On BlackBerry's Chart

BlackBerry Ltd. BB, a WallStreetBets favorite, closed Tuesday up 7% at $10.45.

Some Technical Levels to Watch

The short-term 15-minute chart above shows that the stock is trading in a channel between the range of $8.50 and $12.50. The chart also shows the stock has been hovering around the $10.50 level for the past 15 days.

The short-term chart history shows the stock was unable to break below the $1.50 level or break above the $12.50 for an extended period of time.

The daily chart above shows the stock was previously trading above the $12 mark holding as a support level before falling through the level. After the stock showed this level was a place of resistance where it could not get above. The stock fell further to near $9 where it found some support. Now the stock seems to be trending in a channel between the two price levels.

A bullish technical trader may like to see a price movement break above a resistance level with a period of consolidation before a further price increase may have the potential to happen.

See also: How to Buy BlackBerry (BB) Stock

A bearish technical trader would like to see the price fall through the support level with some consolidation below before a further move down may be possible.

BlackBerry has a market cap of $5.73 billion and a public float of 555 million shares.