Descending channel with a possible hope for a bottom here as it tries to bounce off of the bottom channel.
Though there will be definite resistance at $8.65, I think there is a legitimate opportunity for a an 6-8% move in this stock. The key though is for the base to hold.
Below $7.71 I’d cash in my remaining chips and move on to the next trade.
The risk-reward seems about right on this trade and could be a nice bounce play for the next few days.
Here’s the BBRY trade setup:
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