Today we'll analyze the Stock RIMM for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 107.95$ (02/22/08) to 98.04$ (03/07/08) a 9.91$ move
2- The current bullish trend started from 98.04$ at 03/07/08 and is currently trading at 105.65$.
3- The stock current support level is at 104.16 which is the 61.80% fibonacci retracement of the last 9.91$ move.
4- The stock current resistance level is at 107.95 which is the 100.00% fibonacci retracement of the last 9.91$ move.
5- The Stock formed a 30.05$ height triangle which was broken up at 105.65, target of the pattern is 135.7.
6- According to ADX, the trend is currently strong bearish,which is becoming weaker.
Conclusion:
RIMM is currently trading a strong bearish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 107.95, 110.65, 114.07, 135.70.
Support Levels: 104.39, 104.16, 103.85, 102.99, 102.74, 101.85, 101.83, 100.95, 100.38, 98.04, 98.04,.
Friday, March 14, 2008
Research In Motion Limited (USA) Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
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