Tuesday, August 19, 2008

RIMM or net?

Looks like RIMM is breaking down (not that it is hard to find stocks that are breaking down). It has closed below its most recent support, daily stochastic is falling from the overbought area, MACD is nearing a possible bearish crossover, parabolic SAR is saying sell, and the 50 day is moving under the 100 day (sign of a bearish trend occurring). Perhaps things could turn around for this company, and things could definitely look worse; however, I don't think this stock will be soaring anytime soon. I guess the iPhone is throwing some solid punches.

note: chart from askstockguru.com

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