RIMM Chart analysis

 

• RIMM Sustaining above 50 Week SMA has entered the weekly cloud. For the down trend of the stock to reverse price must trade above the weekly cloud.
• Weekly chart has already reached overbought zone. Bulls need price to sustain above 50 Week SMA for the current up move to continue. If price does not loose momentum it could target either the 100 Week SMA or the 23.6% Fib level as shown in last chart.
• Weakness below 50 Week SMA.
• S&P 500 ANALYSIS AFTER CLOSE

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