AI
Wednesday, May 27, 2009 10:23:00 AM
Re: RIMM - Still bearish
Not so sure about its ability to continue that rally. I updated the chart today to highlight the current resistance trendline which RIMM continues to challenge (up-channel's midline). I see some significant hurdles for RIMM into June, and the recent rally is for now a continued testing. RSI remains tapered off and under 65 (63.83 at time of charting). A breach of that midline, or a RSI crossing over the 70-line in this WEEKLY chart would prove me wrong. For now, I remain true to the chart, which is always right, and I will always assume a humble inferiority to this and any other chart.
RIMM - 36-Month, Weekly Chart:
D.
Not so sure about its ability to continue that rally. I updated the chart today to highlight the current resistance trendline which RIMM continues to challenge (up-channel's midline). I see some significant hurdles for RIMM into June, and the recent rally is for now a continued testing. RSI remains tapered off and under 65 (63.83 at time of charting). A breach of that midline, or a RSI crossing over the 70-line in this WEEKLY chart would prove me wrong. For now, I remain true to the chart, which is always right, and I will always assume a humble inferiority to this and any other chart.
RIMM - 36-Month, Weekly Chart:
D.
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