BlackBerry Share Price Falls As Support for BlackBerry 10 Phones Ends

The BlackBerry share price is down 1.6% on the day after the stock opened trading for the year on a negative note. The highlight of the day for the BlackBerry share price is the deactivation of all BlackBerry devices worldwide as of today. 

The company will deactivate the services required to run data services and the wireless connections of the BlackBerry 10 and earlier versions. BlackBerry phones running on the Android OS are exempted from the shutdown.

The action brings to an end a 10-year process that saw the once-popular phone fall out of favour with users due to its inability to keep pace with emerging threats from the iPhone and Android devices.

BlackBerry Share Price Outlook

The price rejection at the 9.52 resistance level has set the tone for a potential decline towards 8.49 if the bears can engineer sufficient selling momentum. Any further decline below this level also requires a breakdown of the descending support trendline. If this is successful, 7.81 and 7.36 will enter the picture as potential targets to the south. 

However, a run towards the 10.84 barrier will be on the cards if the bulls can initiate a break of the 9.52 resistance. If the advance continues above 10.84, 11.91 becomes the next available target before 13.42 becomes available.

BlackBerry: Daily Chart

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