BlackBerry $BBX , this move +10.83% is kind of interesting. The intraday high was 8.768 and the low was 7.79—back and forth about a whole dollar. Volume was 3.1M, not huge, but enough.
Honestly, BlackBerry as a company—its connected car and the QNX platform—still has a moat in North America’s commercial vehicle market. But the fundamentals are never the main driver behind its short-term fluctuations. Today’s surge feels more like a repair of an oversold move from the past. The long lower wick around 7.8 a few days ago, combined with today’s gap-up, means that in the short term, money is definitely actively stepping in.
In terms of logic, I don’t think this will turn into a direct V-shaped reversal. That previous high zone around 8.8 will probably chop around and grind first. But if over the next few days it can build volume and hold above 8.5, then the prior downsloping structure will have been broken—and you could look forward to a right-side opportunity after the next potential retest.
$BBX has weak correlation with the broader market, with fewer distractions. That makes it cleaner to trade.
Honestly, BlackBerry as a company—its connected car and the QNX platform—still has a moat in North America’s commercial vehicle market. But the fundamentals are never the main driver behind its short-term fluctuations. Today’s surge feels more like a repair of an oversold move from the past. The long lower wick around 7.8 a few days ago, combined with today’s gap-up, means that in the short term, money is definitely actively stepping in.
In terms of logic, I don’t think this will turn into a direct V-shaped reversal. That previous high zone around 8.8 will probably chop around and grind first. But if over the next few days it can build volume and hold above 8.5, then the prior downsloping structure will have been broken—and you could look forward to a right-side opportunity after the next potential retest.
$BBX has weak correlation with the broader market, with fewer distractions. That makes it cleaner to trade.