BlackBerry Ltd (symbol ‘BB’) share price has made a remarkable gain of around 53% in the first 5 months of the year and is currently trading in a range at the time of this report. The company is expected to report its earnings for the fiscal quarter on Thursday 22nd of June. The consensus EPS for the quarter is $-0.06 compared to the result for the same quarter last year of $-0.06.
‘Even though the company managed to recover some of its losses in 2023 it is still not profitable, recording negative earnings for at least the last 4 consecutive quarters. On the financial side the company’s current ratio is just above 100% (102% to be specific) meaning that currently it is able to cover its short term liabilities with the current assets in possession while the total assets outweigh the total liabilities at a ratio of around 2:1.’ said Antreas Themistokleous at Exness.
From the technical analysis perspective the price is currently trading above its moving averages with the 20 SMA acting as a support for the time being. The Stochastic oscillator is not indicating any overbought or oversold levels even though its on the move to the oversold side.
The 50 moving average is still trading above the 100 day moving average indicating that the bullish momentum is still valid while the Bollinger bands have contracted significantly giving reason to the sideway movement seen on the chart in the last month.