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Repair Rally for RIMM

Nov 04, 2009 (AdviceTrade via COMTEX) -- By Mike Paulenoff

Company: Research in Motion Ltd. (RIMM)

Repair Rally for RIMM By Mike Paulenoff, www.MPTrader.com an AdviceTrade.com publication

My medium-term pattern work from the June and Sept highs into last week’s low, as well as my momentum work, are telling me that Research in Motion (NASDAQ: RIMM) has completed a major correction and has turned to the upside to begin a potent “repair” rally period. Let’s notice that the initial rally from 54.30 to 60.57 came to a screeching halt right beneath the Sep-Nov down trendline. After the current pullback runs its course, into the 58.00-57.00 area, the next upleg should hurdle the trendline on the way to 65.00-67.00 thereafter.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. (https://www.mptrader.com/reg/mmm) 

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Copyright (C) 2009 Advicetrade. All rights reserved

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Company: Research in Motion Ltd. (RIMM)


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