Back in RIMM again at $69.11 after getting out on Friday of last week around the $73 level. Stop loss now will be placed at $67.50. Short term target price will be placed at $77.50.
Showing posts with label RIMM. Show all posts
Showing posts with label RIMM. Show all posts
Closed off my RIMM position
Closed off my RIMM position for a loss @ $72.90 after seeing the stock failing to close above the 50DMA. Next key technical support will be @ $70.00 level and might consider reentering from there.
As mentioned on my twitter yesterday, the smart thing to do was to get out as the technicals were screaming at me to get out. But I was comfortable enough to take the risk and accept the potential losses if they failed to impress the market on which they did.
So I broke one of the key rules of trading on this one but it was for the fun of it which is:
“Trade what you see, not what you feel (I think its ok to think)”
Went long on Research in Motion today too (RIMM)
Went long on RIMM today too after noticing a favorable breakout around the $78.50 level. Looks like this tech has retraced considerably well also around the 25% failure level and has now pierce through a very key resistance level. Will look for a GAP fill to the $92.50 level in the next coming weeks.
Keep interest in Blackberry $RIMM
RIMM has finally come down and broken through the major up trendline around the $72.00 line after hitting major resistance at $78.21. Looks like the stock is not yet ready to fill in that big downside gap yet (We are in a recession still i guess).
Downside volume is picking up fairly quickly after hitting major resistance at $78.21. will look into it a couple more days to look at when seller exhaustion has finally finished.