With Research in Motion (RIMM) falling over 15% intraday after Thursday’s “earnings miss,” I thought it would be a good idea to step back the timeframe and take a look at the larger picture – mainly the Monthly and Weekly chart structure.
I was taking a look at Apple (AAPL) and Research in Motion (RIMM) and spotted something I wanted to highlight to you. Adam Hewison just released a video entitled “RIMM vs AAPL: An Update” which got me looking at both of these charts, which led me to an confusing conclusion.
Research in Motion (RIMM) recently completed a Rounded Reversal pattern on the Daily Chart, though with this week’s earnings gap, the stock has broken through EMA support. Let’s see the pattern and its resolution. RIMM Daily: The Rounded Reversal is a calm, interesting pattern that expects a stable shift from sellers to buyers as price…
Research in Motion (RIMM) was in the news prominently last week as the stock plunged after slightly missing earnings expectations. The stock has now found temporary support about its 200 day moving average. How far will the bounce go? The logical reaction after a large volatility momentum move down is an inflection (retracement) back to…
Technology stocks have been in the news lately, so let’s take a quick look at three very popular stocks showing similar patterns: Research in Motion (RIMM), Apple Inc (AAPL) and Google (GOOG): RIMM Daily: RIMM missed earnings slightly, which sent traders punishing the stock mercilessly, plunging it beneath its strong trendlines and key moving averages. …