January 12, 2013

RIMM Weekend update

  • RIMM's Golden cross is supporting bulls for now.
  • Daily MACD is showing a buy signal which will work well on price sustaining above 14.21 levels.
  • Bearish engulfing in weekly did not perform well. 50 Week SMA stopped the fall and price is trying to negate the bearishness of that candle. Price trading above the bearish candle should take RIMM towards 17 levels in the short term. Unable to trade above recent high's may result in a breakdown below 10 levels.

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