BlackBerry ($NYSE:BB), the former phone giant that we come to love is about to make a huge rally this week.

A report from The Globe And Mail says that the company are selling their patents to Huawei causing its stock price to fly over 20%.

Additionally, BlackBerry has also been working behind the scenes in CES 2021 with their designs being showcased in Sony’s VISION-S electric vehicles.

 

 

A press release from last December also suggested that its stock price spiked over 60% upon announcement of the two companies joining forces to create BlackBerry’s Intelligent Vehicle Data Platform, IVY.

 

A Parabolic Move May Be In The Works

If you’ve been following our methods in lazy technical analysis, there’s a 40% to 50% additional upside potential if you manage to enter at least below 10.

 

BlackBerry Is About To Soar With Its Patent Sale And Other Deals
$NYSE:BB – Broke assumed Wave 1 resistance upon announcement of Amazon partnership

 

However, as of this writing, BlackBerry is now trading above the 10 levels in pre-market hours and we might see it hit our “Lazy Wave 5” projections earlier than expected.

Assuming that BlackBerry opens high above 10 at the open, we are seeing a euphoric scenario in the works.

So it pays to be cautious when trying to trade BlackBerry because of the possible sell offs that could occur from those who held from last month’s disclosure as well as the participants who caught last week’s dip near 6.

 

Featured Image from Kārlis Dambrāns/Flickr