Million

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>Blackberry stock price slumped 33.15% over the past three weeks.</a></li>
 <li><span>2</span> <a>Blackberry share (NYSE: BB) price observed a sharp selling below the key moving average of 50-day and 200-day EMA.&nbsp;</a></li>
 <li><span>3</span> <a>The recent quarterly results led to a negative impact on the BB share price and fueled the decline.&nbsp;</a></li>
</ul>
<p>Blackberry Ltd. stock price has witnessed a sharp selling in the recent sessions below the key moving average of 50-day and 200-day EMA. The BB stock price slumped over 20% in the last seven sessions and is down by 32% in the past three weeks.&nbsp;</p>
<p>Blackberry Limited specializes in cybersecurity and is headquartered in&nbsp; Waterloo, Canada. The company reported quarterly results on Friday, 6th October which triggered a selloff and the stock price observed a freefall in the current week. The quarterly earnings could not meet the Wall Street estimates which disappointed the BB Investors and the stock prices got punished by the sellers.&nbsp;</p>
<p>The BB company reported a revenue of $132.082 Million which missed the expectations by 2%. However, the earnings were reported to be -$0.04 Million which surprised the estimates by 38%. Collectively, they triggered a selloff and the stock prices slumped nearly 20% reaching a six-month low of $3.74.</p>
<p>The price trend analysis illustrates that the stock price has been maintaining a neutral trend for the past 3 months and formed an ascending triangle pattern and consolidated in order to turn the trend in favor of bulls.<br><br>However, the recent selloff has again tilted the trend in favor of bears below the trendline support. The price has an immediate support at $3.51 which the price might respect in the upcoming sessions. The bulls might try to defend the support as the $3 level is the last major support to the downside. The breakdown of which may initiate another big fall in the stock price.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/4po7FHDtgQBA-pXROvHNjxgtyHD0py0CvfXNKljAqJpMFbpvn8WeYtd3sUQGqEEJngvXXrUwWVcaKj57NtAa9A4uR2cvlPyQJYLljYxPW21sqhrBwYmV8LuizZGfkGoLKpiLdwjJ4fNYqvP3CP5zgbo" alt="Blackberry Stock Slumped Over 32%, Is BB Stock Price Discounted?">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/09/19/blackberry-stock-has-potential-to-reach-10-suggest-analysts/" target="_blank" rel="noopener noreferrer nofollow">Blackberry stock</a> derivatives data analysis states that the current implied volatility in the market is 66.58% with a decrement of 3.03% in the last trading session. The at-the-money strike price has 134 open contracts on the PUT side and 9 open contracts on the CALL side indicating the dominance of buyers at the CMP.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-blackberry-stock-price-forecast-for-2023-strong"><strong>Blackberry Stock Price Forecast For 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh3.googleusercontent.com/QkJueVL1KGJYboiGPvpeP1h2vDNKYp02_UtGJUzSu84pMQdVHwatuIzlIoUwvns8rLriRiYWkp97CrpaNrAx45KuqKODoZ-P7r_7htH6RlJmr4syF_jwg6E1SOsaV2EVE4lNgsdvTJAxArAUCtPXEhg" alt="Blackberry Stock Slumped Over 32%, Is BB Stock Price Discounted?">
  <figcaption class="wp-element-caption">
   Source: BB 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The average analyst price target for Blackberry stock in 2023 is $6.08, which represents a potential upside of 61.37% from the current price. However, there is a wide range of analyst price targets from $4.01 to $10.97.</p>
<p>The most optimistic analysts believe that Blackberry stock could reach $10.97 in 2023 indicating an upside potential of over 190%. If the global IT and software industry grows strongly and Blackberry is able to successfully come up with new products.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-weakness-over-the-charts-strong"><strong>Technical Indicators Signal Weakness Over The Charts&nbsp;</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/UL5xzsrZks2O7OFUdI0Vc4EPtqhzKMoW4ytgq2sJ2ggGubvU0vo6wLIgGwXh3K60N7JOeUnyuUCXmsXSKp-642QlcpzAbuKVNaaG1Y-zOXBTRwhktzvgqU5uLGePTpVrko-yNYx2I8g_Ih4qnsX1Vl4" alt="Blackberry Stock Slumped Over 32%, Is BB Stock Price Discounted?">
  <figcaption class="wp-element-caption">
   Source: BB 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The overall technical indicators including RSI and MACD opinion rating for the <a href="https://www.thecoinrepublic.com/2023/09/19/blackberry-stock-has-potential-to-reach-10-suggest-analysts/" target="_blank" rel="noopener noreferrer nofollow">BB stock</a> is a 24% “sell” with an average short-term outlook on maintaining the current trend.&nbsp;&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Blackberry stock price dropped 20% after missing revenue expectations in the latest quarter. The stock is down 32% in three weeks and broke below the trendline support of an ascending triangle pattern. The stock has strong support at $3 and a breakdown could trigger more selling. The average analyst price target for 2023 is $6.08, with a high of $10.97. The stock could rebound if the IT and software industry grows and Blackberry launches new products.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $3.51 and $3.20.</li>
 <li><strong>Resistance Levels:</strong> $5.04 and $5.63.</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Blackberry Stock Slumped Over 32%, Is BB Stock Price Discounted?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 9, 2023

Top Games & Slots at Wow Vegas Casino: Enjoy Free Sweeps Cash & Coins

Crypto Exchange Upbit Faced Over 159,000 Hacking Attempts in H1 2023: Report

EU Land Registry Records the First Successful Tokenized Property, What’s Next?

Bitstamp is in Talks with European Banks to Offer Crypto Services!

Bitcoin Halving Statement from Binance CEO 'CZ': 'These Are Possible But Not Guaranteed!'

Nike Insiders Buying Its Shares, What To Expect From NKE Stock?

Join our free newsletter for daily crypto updates!