AlexTaylor

Long on RIMM to test $9 resistance

Long
BATS:RIMM   None
353 views
0
RIMM looks like it could be starting into an upwards channel. The SMA50 is turning up, and a harami-style candlestick pattern suggests another upward move may be on the way.

Additionally, the stock appears to be establishing support at a previous resistance of 8.36. Possible new resistance at the 9-dollar area, but I'm going long on the stock while it tests that resistance.

Comments

Bullseye!
Reply
Looks like it broke through that previous 9.00 resistance. Monday will be the next test; is this going to break out?
Reply