Research In Motion Limited (NASDAQ: RIMM) — This designer and manufacturer of wireless equipment is best known for its line of BlackBerry smartphones. But lately each of its new product offerings seems to be upstaged by the marketing of its rival Apple Inc. (NASDAQ: AAPL).
The stock appeared to be progressing nicely in an ascending triangle early this year, until prices broke down in April. That sell-off turned into a broad decline with a death cross in May.
The stock managed a reaction rally in July, but it appears to have run into a wall at the 50-day moving average.
It is now trading under its 20-day moving average, plunging again immediately following the introduction of its new phone, the BlackBerry Torch.
RIMM’s 52-week low, just over $47, will no doubt be tested and, if it fails, look for RIMM to fall to $40.
Related Articles:
An Options Winner If RIMM Gets Torched
iOS 4 Hints at Next Gen iPad, iPhone
26 Broken Stocks to Sell Now — There’s a long list of companies that have jumped off their lows but are still trading at dirt-cheap prices. But BEWARE: These “bargain” stocks aren’t just cheap, they’re broken. Get their names here or risk losing your shirt.
