December 21, 2012

RIMM Chart analysis

  • Only hope for bulls is the Golden Ratio. Price if takes support above this zone may give an up move.
  • Weekly chart is trying to form a bearish engulfing pattern. If confirmed with today's close the weekly candlestick patterns usually work well.
  • Bulls needed a weekly cloud breakout for a bigger up move to happen which is unlikely to happen in the short term.

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