I have prepared a chart about Research In Motion Limited (Blackberry). It is an unusual stock been up and down many times since its IPO in 1998. I have not completely lost faith in it but it is hanging very close around its grave yard.
Right now it is trading at $14.70 which is an extremely important area. It must stay above $14.20 to keep up with the up trend line, however it is near a gigantic resistance area which is at $18.30. For BBRY to have any hope it must go above that resistance area so that it becomes a support level. Once the price goes above $18.30 then it shall go to test $29.29, in other words a nightmare for BBRY because it is the worst resistance level of all time.
On the other hand BBRY has always surprised people with its price percentage spikes in the past, Although the last 4 times are less impressive than the first 4 times as shown in the picture… That is another signal indicating that investors don’t have as much confidence as they had previously.