Today we'll analyze the Stock RIMM for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 105.65$ (03/13/08) to 98.12$ (03/17/08) a 7.53$ move
2- The current bullish trend started from 98.12$ at 03/17/08 and is currently trading at 105.00$.
3- The stock current support level is at 102.77 which is the 61.80% fibonacci retracement of the last 7.53$ move.
4- The stock current resistance level is at 105.65 which is the 100.00% fibonacci retracement of the last 7.53$ move.
5- The Stock was supported by a support line, identified by two points: 98.12 and 93.59, and is currently supporting at 99.026.
6- According to ADX, the trend is currently bullish,which is becoming weaker.
Conclusion:
RIMM is currently trading a bullish wave, which is becoming weaker .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 105.65, 107.70, 110.30.
Support Levels: 103.38, 102.77, 102.37, 101.89, 101.56, 101.00, 100.75, 99.90, 99.03, 98.12, 98.12, 92.89.
We Moved!!
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Shadi
Wednesday, March 19, 2008
Research In Motion Limited (USA) (RIMM) Technical Analysis
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have a nice day,
Shadi
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