Quick Win by the Algorithm

On May 19, 2017, the I Know First algorithm issued a bullish forecast for BlackBerry Limited (BBRY). BBRY had a signal of 32.28 and a predictability of 0.07. As a result, in accordance with the forecast, the company’s stock increased by 11.97% within just 3 days, showing a quick win by the algorithm.

BlackBerry Limited operates as security software and services company in securing, connecting, and mobilizing enterprises worldwide. The company operates in three segments: Software & Services, Mobility Solutions, and Service Access Fees (SAF). BlackBerry Limited was founded in 1984 and is headquartered in Waterloo, Canada.

BBRY seem to have successfully transitioned itself from a smartphone company to a mobile security services provider. The $814 million won in a patent arbitration against Qualcomm, combined with the hope of future settlements from disputes with Avaya and Nokia, are making investors anxious. BlackBerry shares are approaching four-year highs, and up more than 63% in 2017.

Earlier this week, BlackBerry announced a new deal with Ford Motor Company. The deal will expand the use of the BlackBerry operating system (QNX) in Ford automobiles. With automobiles possessing more computer power and internet connectivity, cyber security has never been of higher importance.

Despite formally exiting the handset business, BlackBerry continues to work with hardware partners in countries such as China and India. Furthermore, the Optiemus Group, who holds the license to manufacture BlackBerry branded hardware in India, plans to invest almost $30 million to re-launch the brand. They plan to release two smart-phones over the next few months. With almost 14 million users on the BlackBerry platform, this move by Optiemus is pivotal in keeping them engaged.

This bullish forecast on BBRY was sent to current I Know First subscribers on May 19, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.