BB, Blackberry update

bb march 12 2013

Blackberry is displaying typical “triangle” behaviour, sharp ups and downs within a relative well defined space with lower highs and higher lows. Wave e is still needed but could be short and depending on where it ends the target is approximately somewhere between the two (purple) lines, $20 to $21. The way to approach this is to try to buy it at $13.50 with a stop at $12.75 and sell (after getting filled of course) at $20. You risk 75cents for a gain of &6.50, a risk/reward ratio of 1 to 8.7

The possibility exists that we are, alternatively, in an a-b-c counter-trend correction. The a would then have been from 6 to 18 and the triangle is in fact the b. The pop up would then be even larger than in the long-term bullish scenario above, which makes that trade even more exciting.