Trade Idea - RIMM
Tuesday, February 26, 2008
Research in Motion shares still performing very well over this month, approaching now of its downtrend line at $110. Looking at the daily chart, it seems that stock might be able to produce here some profit taking, according to the KD indicator, where K line is near to cross below D line. So, it will be very interesting to see if RIMM will have strength enough to break its downtrend line formed since October. First support for stock is now under its 20-day moving average at $104. Let's keep an eye on it.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: RIMM