Nearest Resistance: $10.75
Nearest Support: $9
Catalyst: Q1 Earnings
BlackBerry (BBRY - Get Report) is enjoying some upside this afternoon, with shares up more than 7.4% on the heels of bullish first quarter earnings numbers from yesterday. The Canadian handset maker posted an 11-cent loss for the first quarter, but that number still came in 15 cents better than analysts were expecting. Likewise, the firm reduced its cash burn, and actually increased its cash on hand to $3.1 billion thanks to a tax refund and asset sale. Those fundamental improvements are getting investors excited in BlackBerry's stock again in the last two sessions.
And technically speaking, BBRY is starting to look good again too. Shares actually broke out of an ascending triangle pattern on Wednesday, clearing then $9 resistance. From here, the next upside challenge comes up at $10.75. That leaves some room to the upside for traders who want to get in now.