RIMM Basing Out
Posted by Blain Reinkensmeyer
January 2, 2008 at 12:00 pm
Research in Motion, RIMM looks to be basing out after gapping up on December 20th from positive earnings.
Support is at the 50 day moving average, and resistance seems to be at about $120. A strong accumulation move through $120 would make RIMM a buy.
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On the downside RIMM needs to hold its gap range and its 50 MA. The stock as of this post is sitting just under $113 at a last of $112.49.
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