RIMM Research in Motion Weekly Chart Positive Divergence

During the year thus far, we watched the failure of RIMM on a technical basis and then the continual move lower with lower lows and lower highs. RIMM's luck is changing, the stock appears to have finally bottomed. Note the red circles that demanded a lower price move lower that August, and the indicators received this lower low a week ago. Now the indicators are all lined up with positive divergence for this lower low identifying the launch pad.

The daily chart is also set up with positive divergence which is an awesome combination to have for the RIMM bulls. The daily chart also shows an island bottom in place so do not be surprised to see a quick jump to 30. The worst is finally over for RIMM, the technicals say it is time to move sideways to sideways higher going forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.