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[dalcindo]

Re:RIMM - BEARISH Per Fib matrix, daily, weekly, monthly charts:

Despite a bullish RSI, I am seeing some serious technical hurdles for RIMM's ability to fill the gap and continue its rally:

1 - First, the daily chart (below) indicates a significant resistance level at around $78.20;
2 - Second, the Fib matrix drawn last 09 MAY 09 is getting validated by the two Fib grid: one long-term (in BLUE), where resistance occurred at the significant 38.2% Fib level, and a second medium-term ( RED) that retraced at 100% of its Fib level, both respecting that historical resistance referred in point #1.
3 - Secondary indicators signal some serious resistance in forming negative divergences (CCI, Wm%R, CMF, PPO, ADX) or submission to a resistance down-trendline, as in the case of both A/D line and OBV.

Overall, the chart favors a bearish down-turn.

PS: Older charts from my SC.com public list* have been carrying RIMM for sometimes. See how the weekly and monthly charts carry a similar bearish pattern (RSI fatigues and retreats from the 60-level, secondary indicators are lining up into a pre-decline pattern) - Caveat: the monthly chart has been left untouched since last summer AUG 2008, so some refinement will come as I dust and buff the list):

(My public list can be visit thru this link: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2140281 - Voting, commenting, chart requesting is welcome TIA!)

RIMM - 24-Mo., Daily Chart:



RIMM - 36-Mo., Weekly Chart:



RIMM - 5-Yr., Monthly Chart:


D.