RIMM hasn't been able to get much upside momentum going for it after a disappointing earnings season left it with a 20% haircut.
Looking at the weekly chart and one is tempted to get immediately bearish with that flag setting up:
However, notice that RIMM on the weekly is sitting on top of a 200-MA. While on the daily, yep, another 200-MA! $65 is the line in the sand.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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