RIMM Research In Motion Daily Chart Falling Wedge Oversold Positive Divergence

Price drops further but the chart is strongly positively diverged. The falling wedge and oversold stochastics will also help bounce the price. RIMM has paid its dues. Projection is sideways to sideways up for the coming days and weeks. 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 financial advisor before making any investment decision.

Note Added 12/16/11 at 9:12 AM:  RIMM announces a delay of their phone last night and sends shares down a buck or more.  Price will need a few days for the smoke to clear. Today's action will be interesting from the standpoint of how many shorts will cover at the new low prints, or not. Each week there is bad news from RIMM but interestingly last week the stock took a 10% hit on news, and recovered the next day. The AH rout last night and RIMM was only down 6 to 7%, on worse news. RIMM price is washing out currently but the obvious question is how low can it go? Let's see what happens after the opening flush today.