RIMM
By Steve Abraham on Dec 11, 2007
RIMM has been one of the best stocks in the market over the last couple of years. The stock now appears to be at a critical point. It somewhat broke support today but then again most stocks got crushed. The stock is worth watching. I’d like to see a big reversal and at the close on big volume to get me back in it. If the stock closer lower tommorrow on big volume (I think this is likely) then RIMM is done for awhile. Trading this stock is going to be difficult because they report earnings on Dec 20. That report may give us a better idea of where the stock is heading. Here is the chart:
7 Responses to “RIMM”
I agree with your analysis on RIMM. I am current short at 104.88, stop just above 105 and initial target at 86. I did not go full position on it mainly because it has been in oversold for a while now, but it sure looks like it could break down big time at any moment.
best,
fw
I wouldn’t lose hope yet. You just need to get in at the right time. My Wize Trade charts show a come up within the next few months. If you notice this chart, it goes down and back up again every 1 - 2.5 weeks. Wizetrade magnifies the chart to give me a much closer look. But I’d guess it’ll be profitable soon.
This is looking really shacky. Since this chart does not show any major downtrends, it is dangerous, because now it is slumpping. Wizetrade doesn’t give much support either.
This stock is VERY shaky. Since it hasn’t shown any recent signs of distress, there’s no telling what the future holds. A bunch of people dumped this stock in November. There must be something I don’t know about. It maybe bad press. I’ll have to refer to wizetrade. Good luck to those who are holding on to it.
Target 85. Thereafter upside to 97.56
Feb. 6, 2008. I see rimm trading at its bottom and a bounce is ripe. I see rimm passing 100 in the next two weeks. It’s sales will continue to increase overseas and I believe they will surprise people with more high end tech. Apple requires miricales and rimm only needs good news and I expect it sooner rather then later. The company is an inovator and is ripe for a merger.
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Regards,
Caroline