BlackBerry

BlackBerry (BBRY) engages in the design, manufacture and marketing of wireless solutions worldwide. This stock closed up 6.1% to $8.50 in Tuesday's trading session.

Tuesday's Range: $8.10-$8.58
52-Week Range: $5.44-$18.32
Tuesday's Volume: 71.57 million
Three-Month Average Volume: 20.18 million

From a technical perspective, shares of BBRY spiked sharply higher here and broke out above some past overhead resistance at $8.45 with heavy upside volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $5.44 to its intraday high of $8.58. During that move, shares of BBRY have been consistently making higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in BBRY as long as it's trending above Thursday's low of $8.10 or above more support at $7.50 and then once it sustains a move or close above Tuesday's high of $8.58 with volume that hits near or above 20.18 million shares. If we get that move soon, then BBRY will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $10.45 to $10.79. Any high-volume move above those levels will then give BBRY a chance to tag its next major overhead resistance level at $11.65.

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

Delphi, Blackberry Announce Partnership to Advance Autonomous Vehicles

We Are Astonished By How Far Uber Has Deviated From Its Original Master Plan

BlackBerry's Rally Is Falling by the Wayside

Goldman: Blackberry a 'Sell' Over Mobile Messaging Concerns