Research In Motion (RIMM) – Target this Price on the Downside

I was asked about RIMM on yesterday’s TV appearance.  Hear is my trading strategy (no recommendation here, just predicting a high probability future).  RIMM already bounced off EBV-3 in late December.  We are looking for a retest of this level (EBV-3) at $13.00.  We don’t think RIMM will break this level for various reasons.  If it does, this will be subject of a future blog post on what we believe the market is saying to RIMM’s management. (Hint Alert: it won’t be good!)

RIMM with weekly price bars, EBV Lines (colored lines) and model price (dashed line)

For those interested, a daily updated chart of RIMM subsequent to this post will be maintained on Facebook, here.)

4 responses to “Research In Motion (RIMM) – Target this Price on the Downside

  1. Charles Couch March 5, 2012 at 3:03 pm

    good call its now there – we wait? One analyst has a $7.00 handle on it,

    • ModelPrice Guy March 5, 2012 at 3:17 pm

      We should have an UP bounce of some kind. If RIMM pre announces, which the market expects, there will be a new EBV-3 (lower) if there are write-offs to the balance sheet. Stay tuned!

  2. Charles Couch March 5, 2012 at 8:49 pm

    This stock has cost me – will be following with interest.
    Thanks – will stay tuned.

  3. Stock Charts Kid May 1, 2012 at 12:49 pm

    The stock over all is bearish, the trend is down. Personally, I don’t think RIMM is going to survive. Shorting resistance levels are the best bet. It’s all about probabilities in the series of trades. Also price action. There’s more bang for the buck on the short side. Just taking a look at the price action, it goes down faster than it goes up.

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