Research In Motion (RIMM) : New Product, and Kumo resistance

Now that AT&T has unveil RIMM’s new phone, Torch, on its web site…. the question to ask is, “Are you impressed?

Are there any new features that competitors like AAPL or GOOG cannot provide or catch up with?

Let’s take a look at the Ichimoku chart.

Currently, RIMM is heading right smack into the kumo resistance.

With the resistance fairly thick, I am expecting RIMM to retrace to around $52.

One of the things lacking in this product launch is the WOW factor that we see for PALM.

With PALM, the WOW factor pushes it from $6 to around $17-18 before it finally falls under its own weight.

RIMM is slightly different. Revenue is strong. However, the product is missing the WOW.

By iam802

Trend trading with Ichimoku