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.
- See Sam Collins’ Daily Market Outlook: What Stands in the Bulls’ Way Now
- See Serge Berger’s Daily Market Outlook: Why Traders May Want to Take an Early Vacation