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Research In Downward Motion



March 23, 2011 – Comments (1)

Research In Motion Ltd.(NASDAQ:RIMM) is one of the leading mobile device makers in the world. The stock has been weak on the daily charts since topping out on February 18, 2011 at $70.54 a share. The stock is declining again this morning by $1.00 to $61.40 a share. Traders can watch the $60.95 area for intra-day support. Please remember that the major stock indexes are weak today and this support level may not hold up very long if the market declines further. The next Intra-day support area would be around the $60.50 area.

Nicholas Santiago

1 Comments – Post Your Own

#1) On March 23, 2011 at 12:01 PM, willmaster01 (94.09) wrote:

Earnings are out on Thursday which will govern the direction in the interim period. If you're a value/growth investor it may be worth waiting until this uncertainty plays out otherwise you will be speculating on the earnings potential of the company. Could be a great buying opportunity if the street doesn't like it though.

 Happy Trading


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