Shares of Blackberry $BB have traded down in 2018 from a high around $14.50 to a low around $9.50. In recent months, price has been trading essentially sideways around $10. At the end the past (9/28), we saw a strong bullish breakout from the recent consolidation as well as the overall 2018 wedge pattern. BlackBerry Daily Chart (click to enlarge) Bullish Breakout:- Although price action has been bearish in 2018, it has been in a choppy manner within a falling wedge.- This suggests that the bearish mode is NOT the primary mod - at least not yet.- The current bullish breakout also suggests that the bearish bias in 2018 could be coming to and end. - Note the volume accompanying the breakout. - I think if price can close above the 200-day simple moving average (SMA) next week (above $11.40), we should consider this a true bullish breakout.- Also, we should see support around $11.00 if the bullish mode is in play. - The next key bullish sign would be a break above the $12.00 handle. - Finally, if there is a subsequent pullback, look for the daily RSI to hold above 40, which would confirm the bullish momentum.Targets:- The bullish breakout opens up the high on the year near $14.50. - Looking at the weekly chart, we can assess the next key target and resistance to be around $17.90-$18.00, resistance and highs from 2012-2013. - Also note that the RSI in the weekly chart held at 40 and turned up, which is a sign that the bullish momentum since 2017 is maintained. - Also price has been able to bounce off the moving average cluster after crossing above it in 2017. This is known as a bullish sling-shot. - As we can see, there are many signs favoring the bullish outlook at least back to test the $14.50 area. It looks like the market flirted with going back below $10, but has established this area to be an anchor for the next bullish swing. BB Weekly Chart (click to enlarge)Profit Tops Estimates:It should be noted that Friday's rally was on the back better-than-estimated profits, reported in the latest quarterly report. The thing is, cost-cutting was a big factor, especially in research and development. "The company's expenses fell in the quarter. Selling and marketing costs dropped about 6 percent to $106 million, while research and development costs fell 15 percent." (CNBC)While I think BB is indeed coming off a price bottom, I am not convinced this latest report is a strong catalyst for the push towards the $17.90.