Here is my most recent prior post on BBRY. While I had a negative bias based on the real time wave count, the shares moved marginally higher and are now back at around the price level of the that post. With 5 rail bumps and a throw over that left a unicorn horn poking up, the shares are now threatening to break down the lower rail of the ascending wedge. In other words, that was a C wave which put in black 4. Again, the falling wedge into late 2013 now looks like a clean 3.
So if this count is correct, BBRY should have one more pretty significant wave down to the $4 level over the course of 2015. That would represent a 60-70% loss from here and would signal a strong buy. If this model is correct, it should occur as 5 waves down. A break below the lower rail would be the first confirmation of this model. A break back above the top rail OR a bunch of sideways trash at this point would invalidate this count.
Thursday, December 4, 2014
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