BlackBerry (NYSE: BB) stock pulled back on Tuesday and swung around during the session, mostly thanks to some good old-fashioned profit-taking.

The stock had traded higher Monday afternoon as investors digested the fiscal second-quarter earnings report released last week. By Tuesday, the mood shifted. The Nasdaq was up 0.23% while the S&P 500 had shed 0.04%, so it wasn't exactly a broad market rout dragging BlackBerry down.

Q2 Results Top Analyst Estimates

Last week, BlackBerry reported revenue of $163.3 million, up 26% year over year, against analyst estimates of $142.55 million. That's a pretty wide beat.

Adjusted EPS came in at 7 cents versus a 4-cent forecast. Adjusted EBITDA rose 81% to $47 million.

The IoT and QNX division reported record revenue of $80.3 million, up 27% year over year. Its adjusted gross margin rose 4 percentage points to 87%. That's the kind of number that makes hardware-adjacent software businesses look very attractive.

Technical Analysis

From a trend perspective, BB is still holding a constructive longer-term setup: it's trading 33.6% above its 200-day SMA ($6.30), and the golden cross in May (50-day SMA moving above the 200-day) continues to frame the bigger picture as bullish. Near-term, though, the stock is trading 3.3% below its 100-day SMA ($8.71), which helps explain why rallies can feel capped until price reclaims that zone.

Momentum is neutral, with RSI at 52.72. RSI measures how "stretched" a move is, and this reading suggests neither buyers nor sellers have a clear edge right now. That lines up with the mixed moving-average stack: the 20-day SMA is still below the 50-day SMA (a bearish short-term crossover), even as the longer-term trend remains supported by the 200-day.

• Key Resistance: $9, a round-number area that often acts as a near-term ceiling when rebounds try to extend
• Key Support: $8, a round-number level sitting close to the 20-day SMA ($8.02), making it a natural spot for dip-buyers to defend

BB Price Action: BlackBerry shares were down 3.47% at $8.49 at the time of publication on Tuesday, according to market data.