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RIMM’s Rally Is Just About Finished

Unless someone attempts to acquire Research In Motion, the stock is likely to falter

   

Research In Motion (NASDAQ:RIMM) — This designer and manufacturer of wireless equipment is best known for its line of BlackBerry smartphones. But lately, each new product offering seems to be upstaged by its rival, Apple (NASDAQ:AAPL).

RIMM broke its 20-day and 50-day moving averages in August, but unless a buyer surfaces that can acquire the company, it is likely that the recent rally will falter around the current level.

Note the gap at $30 to $35 and major resistance at its bearish resistance line at $35. Holders should sell into this rally.

Trade of the Day – Research In Motion (NASDAQ:RIMM)

Trade of the Day Chart Key

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Article printed from InvestorPlace Media, http://investorplace.com/2011/09/trade-of-the-day-research-in-motion-nasdaq-rimm-2/.

©2016 InvestorPlace Media, LLC

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