RIMM Research in Motion Weekly Chart Trending Lower

RIMM Research in Motion weekly chart trending lower and displaying weak behavior. Downward channel with lower lows and lower highs is easy to see. Over the last few months, RIMM has created another round of overbot conditions, a rising wedge and negative divergence, thus, it will now receive the necessary smack down, which has started.

Of interest below is a gap fill at 50, then the lower rail of the downward moving channel and the confluence at horizontal support, and a gap fill, all at the 41-42 level. Thus, 41-42 is an excellent downside target as 2011 ticks along. 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.