BlackBerry Limited stock price down 0.8% on Monday (Updated on August 30, 2021)

Buy or Hold candidate since 2021-08-24 Gain 0.99% PDF

The BlackBerry Limited stock price fell by -0.80% on the last day (Monday, 30th Aug 2021) from $11.30 to $11.21. During the day the stock fluctuated 5.59% from a day low at $10.91 to a day high of $11.52. The price has risen in 6 of the last 10 days and is up by 15.93% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 10 million shares were bought and sold for approximately $115.51 million.

The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $11.11, a level that may pose a second chance to hit a runner. According to fan-theory $13.22 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Signals & Forecast

The BlackBerry Limited stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.70 and $10.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, August 19, 2021, and so far it has risen 17.26%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

BlackBerry Limited finds support from accumulated volume at $11.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.61 between high and low, or 5.59%. For the last week, the stock has had a daily average volatility of 7.71%.

Our recommended stop-loss: $10.78 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)

Is BlackBerry Limited stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 2.759

Predicted Opening Price for BlackBerry Limited of Tuesday, August 31, 2021

The predicted opening price is based on yesterdays movements between high, low, and the closing price.

Fair opening price August 31, 2021 Current price
$11.21 $11.21 (Undervalued)

Buy Candidate Unchanged

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On August 18, 2021 Canaccord Genuity gave $10.00 rating for BB. The price target was set to $9.67.

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