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View Full Version : Trade Idea - RIMM

antonioac
02-19-2008, 06:45 PM
The stock failed to pass over the resistance at $98 last week. RIMM is clearly losing momentum in the short term and downside is likely. Another negative indicator is KD where K line seems to be ready to fall below D line, which could mean share prices are heading for a fall.

2710
MrSer
02-19-2008, 09:49 PM
Personally if i had to be short a tech stock it would be rimm.
wallstreetsedge
02-20-2008, 12:39 AM
rimm just looks like stale money right now

if i did have to choose a side though, id be short on rimm too... rsi is indicating a short term down trend from here
bahroor
02-20-2008, 01:21 AM
this stock had a nice 600%+ run form the 20s just 2 years ago!!
what goes up fast must............
pedrom727
02-20-2008, 10:26 AM
Taking a look at the 9 month chart I also found the presence of a very clear breakaway, measuring, and exhaustion gap. Prices closing below the exhaustion gap which occurs in mid-December also gives a bearish signal.
pedrom727
02-20-2008, 05:24 PM
Tried to break $98 today and immediately pulled back at $98.10, also traded on slightly less than 10 day avg volume. Stochastic cross showing sell signal and it looks to be in a bearish trend. I'm covering at $101 if it pops but this seems like a good short. In addition right after close DJIA and NSDQ futures are down around 1.5%.
antonioac
02-20-2008, 05:48 PM
What a day for RIMM. Stock completely changed my point of view and closed the day well positioned to break one important area. So, tomorrow keep an eye on RIMM for a possible breakout over $98.15 on a close basis.
wallstreetsedge
02-20-2008, 06:22 PM
id still rather be on the short side for rimm... looking at the rsi, its a bit overboughtbut who knows, maybe we can have a breakout.. going by candlesticks, we can see it heading to 120+
Chart Robot
02-20-2008, 06:26 PM
2719
wallstreetsedge
02-20-2008, 06:29 PM
2719

if youre looking to trade this, youd better change your indicators
pedrom727
02-21-2008, 09:55 AM
Despite the technicals being good on this short they raised their subscriber growth forecast by 15% to 20% which is pretty huge. I'm trying to decide if I should cover now or wait, as obviously my $101 stop wasn't executed in after-hours. Bleh, that's some bad luck :/ I'm going to be watching it closely during the day.