Thursday, September 1, 2011

RIMM’s Rally is Just About Finished

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tdp2664 InvestorPlace 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



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