“Old tech” plays have been showing decent revivals with the likes of MSFT near all time highs, and there have been some laggards with the likes of JNPR and SYMC trading 9 and 13% off recent 52 week highs. One intriguing play that is attempting to transform itself into a software player is BBRY. Directly below is how we looked at the name in our¬†Monday 6/19. It took a misguided step when it reported earnings last week but is doing just what you want to see, as it is quickly making amends. In the last paragraph here we take a longer look at the weekly chart and how the stock may be setting up going forward.

Stocks that can be bought at the round numbers are BBRY OLLI RES. BBRY is an “old tech” play higher by 53% YTD and 50% over the last one year period. Earnings have been mostly higher with gains of 11.5, 5.7 and 3.9% on 3/31, 9/28 and 6/23 and a loss of 2.7% on 12/20 (stock REPORTS next Thursday before open). The stock is higher 9 of the last 12 weeks with zero weeks of distribution and heavy volume weeks ending 3/31, 4/14 and 5/19 which jumped 9.6, 10.6 and 11% respectively. On the weekly chart one can see the breakout from a very long cup base trigger of 9.56 the week of 5/19 that began the week ending 1/1/16. It has demonstrated excellent action POST breakout and is now pulling back to round 10 number. Enter BBRY at 10.25.

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