RIMM is showing another great setup for the short.
1. A Tenkan sen – Kijun sen bearish cross may be forming.
2. Huge massive kumo resistance ahead at $22.06
3. The kumo resistance goes all the way to $26.42 .
In other words, unless RIMM have catalyst that can propel it above $26.42 by December, it remains a SHORT.
Note:
Vested.
RIMM continues to face resistance fromt the gap down back in Sept 16.
From the Ichimoku chart, unless RIMM can break through and rally above $27 before end October, the resistance level at $24 will hold.
$RIMM has a nasty downtime on their BlackBerry service in Europe. This does not come at a good time.
For a company that place so much emphasis on its secure services, any downtime of such nature is not acceptable.
And if iOS and its secure iMessage is still not a strong enough threat, RIMM has a new competitor (in the form of Android).
Fast Company just reported that the Germans have a new project focused on making Android’s security the key focused. It comes with plans to work with corporate IT teams and partners to install, update or delete smartphone apps without going through app stores.
In a nutshell, a lot of what it attempts to do will marginalise RIMM further. The competitive moat that RIMM has for BlackBerry is being eroded at a much faster pace.
Remember MS Windows and the story of Linux? That is a huge market share that MSFT fail to hold on to.
The combination of iOS and Android is repeating history again. They are going to increase market reach, capture new markets all at the expense of RIMM.
Note:
Vested with a bearish bias.
