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Tech

Research In Motion Ltd (RIMM): Continues to edge down

RIMM continues to edge down in a narrow price range.

The Chikou Span support for RIMM is around $55.69

And at current trading session, RIMM has already break that support, though it might try to rally back later in the day.

However, there isn’t any catalyst for RIMM at this moment.

Playbook is still not officially released. And even if it is, what will be the sales volume be like?

The plus point for RIMM is, unlike PALM way back, it is in a fairly strong cash position.

At this moment, nothing on the Ichimoku Daily Chart is telling me that the trend has change for RIMM. Until the trend changes, RIMM remains bearish.

Note:

I have SHORT MAY CALL spreads on RIMM.