RIMM Follow Up / Chart Request...

RIMM has had a couple of day that look like capitulation event and it seems to be building a medium size double bottom.

 The 60 min 3C chart shows the negative divergence sending RIMM gapping lower and then at the green arrow there's pretty good down trend confirmation. The recent positive divergences have both come at what would be the base bottoms. The 60 min chart is leading positive so it looks pretty strong here.

 Here's a 15 min chart of just the base area with positive divergences at both bottoms and a small negative at what is almost certainly the breakout level to a stage 2 mark up phase.

 Very short term intraday on the 1 min  there was an earlier negative sending RIMM lower and a negative here, I'm inclined to think this may be more consolidative based on the longer term charts.

 The 2 min chart looks a bit more extreme, but this is still within a consolidation considering the longer term charts.

 The 5 min, if this doesn't deteriorate any more I'd say it is consolidative, if it does, then a probable pullback.

 On the X-over screen, RIMM hasn't quite hit a long signal, but it is moving closer to it. Any pullbacks would be expected around the yellow 10-day moving average.

If there's going to be a pullback, I think the 30 min Trend Channel would mark it with a move below the channel around $14.30

The long term trend channel held the entire move down and currently (for longer term longs) would have a stop at $13.32, this stop will move up even if there is a pullback so if you need updated stops from the Trend Channel, just email me.