RIMM Update

There are plenty of RIMM updates out there, so this is just one of many. My larger perspective hasn't changed, it's just the voyage getting there is bumpy a I had thought it would be. Ultimately RIMM
is releasing some new handsets, but until they get their new operating system into their phones and on the market, these new phones are just a band-aide and they will likely continue to lose market share to Android devices and I-phones, when their new OS comes online, then RIMM might stand a chance at something more then a brief rally.

 Here's RIMM's daily chart/Trading range that was broken, note the positive divergence in RSI as well as the leading positive divergence in RSI now in the box.

 I had expected RIMM to test support at least one last time, right now it's bumping up against a resistance AREA-not a specific resistance point.

 The 1 min 3C chart shows RIMM hitting that resistance area this morning, so a pullback is in order.

 The 30 min chart has called just about every move in RIMM and while 3C hasn't turned down yet, it's still in a lagging position, so that pullback to support is NOT off the table.

Ultimately, this is what I would envision for RIMM, a breakout of the range, that will set short positions up and then a failure down through the range on the next major leg down.