Smoking Securities

Half Baked High Finance

Posts Tagged ‘RIMM

Twitter Ticker ($RIMM)

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RIMM090804Research In Motion is getting attention on StockTwits as many technicians are seeing breakouts. On June 19th RIMM was trading at 72.78 when I posted this, “a break below 70.87 may encourage more selling, but trading above the upper Bolllinger in a rising trend calls for buying the dip.”

Looks like things have played out according to plan, and the prognosis remains the same. So long as RIMM can stay in an uptrend above a rising upper Bollinger, this is a good stock to hold. My only cause for concern is the recent secondary downtrend from June to July, which technically made a lower low.

A breach of 62.28 would jeopardize the bullish thesis, but I’m counting on a break of 86.36, despite the downside price target of 54.89. Fundamentals, macroeconomics and valuations be damned, broad market strength continues to carry everything up, so don’t fight the rising tide.

Written by chucklesamadeus

August 4, 2009 at 10:39 pm

Twitter Ticker ($RIMM)

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RIMM090619StockTwits chatter remains focused on Research in Motion, which fell 4.92% to close at 72.78. A break below 70.87 may encourage more selling, but trading above the upper Bolllinger in a rising trend calls for buying the dip.

After doubling since March, more consolidation may be necessary, but if the broad market doesn’t weaken, RIMM looks like a decent long candidate. A rising upper Bollinger would be a welcome sign to complement the rising 20sma and trend line, but it will take time.

As far as products go, I have limited experience with Blackberry, but everyone wants an iPhone and “Crackberry” seems as popular as Quaalude. I hear the Storm is a POS and the new iPhone 3G S is getting great reviews, but maybe there is room for competition.

Speaking of competition, PALM continues to looks the strongest of the bunch, and it has a ludicrous short position to fuel more gains.

Written by chucklesamadeus

June 19, 2009 at 12:48 pm