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Research in Motion (RIMM) Downgrade Alert, Watch for 16% Technical Downtrend Continuation

Nov 02, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Company: Research in Motion Ltd. (RIMM)

Research in Motion (NASDAQ:RIMM) downgraded to Sell from Buy, $54 target, at Citigroup. The stock closed Friday at $58.73 on volume of 21,632,353 shares, above average daily volume of 16,773,270.

Research In Motion is currently below its 50-day moving average of $72.56 and below its 200-day moving average of $65.63.

SmarTrend is bearish on shares of RIMM and our subscribers received a Downtrend alert on September 25, 2009 at $69.94, which has returned 16% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Company: Research in Motion Ltd. (RIMM)


Related terms: market, nasdaq, research, securities

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