August 18, 2010 | In: Uncategorized

RIMM Is Looking Very Delicious At $50.25

RIMM (Research in Motion), closed today at around $50.25, which is $.25 above the level I recommended for buying (unfortunately, I can’t buy it myself now). If you take a look at the 3 month chart, you’ll be able to notice that RIMM has now bottomed for the current cycle. I think right now is a great entry point to RIMM. Again, I do recommend to be short on your position: sell the stock within a few days (it should rebound in a couple of days). You should exit your position at around $55, and then re-enter below $50.

Research in motion, as a company providing the blackberry service, still has potential in the short and medium term, but the stock is in a downward trend. RIMM’s RSI is way below 50 (right now it’s at 38.42).

Unfortunately, I’m a watcher right now as my money is still locked in the equities that were hit last week. I hope my stocks will recover this week.

Comment Form