Yesterday I updated RIMM two of the main themes were that a) RIMM would continue to hold support inside the trading range and b) expect a pullback in to the afternoon trade, both happened as the charts were showing.
As for today's trade... (Remember, my expectation s for RIMM to breakout of the trading range to the upside, run a bit and then set up a short position).
Yesterday's update about RIMM trading down in the afternoon, but holding support
Today's trade is pinching in a wedge, which is a bit bearish, it should, according to technical analysis, breakdown from the wedge, but from our experience there's almost always an upside breakout first as you can see happening now.
3C 10 min is lagging badly, suggesting a pullback
So is the 15 min chart.
I do suspect RMM will continue to hold support on what may be the 3rd test of support inside the trading range.
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