- Rimm Moves away from 200 Day SMA with A GAP. GAP fading may happen but the up move may sustain if price sustains above 200 Day SMA.
- Weekly chart shows price closing above 50 Week SMA.
- Turning the weekly trend will be tougher for RIMM bulls as it nears the weekly cloud.
- DOW JONES WEEKEND UPDATE
November 24, 2012
- Dow jones Weekly chart shows price moving towards the broken support line of the rising wedge.
- Weekly chart also shows price taking support at 100 Week SMA and closing the week above 50 Week SMA.
- Daily chart too closed positively for bulls above 20 and 200 Day SMA.
- Daily closed into a resistance zone. Up move is likely to continue on trading above 13038 levels.