RIMM Update

My longer term view is bullish on RIMM, shorter term a pullback was expected, there are some initial signs that the pullback is ending. I suspect the next leg up for RIMM will be the breakout from the range.

 RIMM's range on a daily chart and the area I suspected a pullback at the red arrow, basically a consolidation to build some strength after an extended run in anticipation of a breakout move.

 The 5 min chart is showing a leading positive divergence, it needs to migrate to the longer term charts before I feel confident in a breakout.

 The 10 min chart just saw some of the strength from the 5 min, you also see the negative divergence for the pullback, so this 10 min chart should build, that''s what we want to see.

 Ultimately though, the negative divergence that created the last pullback on the 15 min chart will have to go positive, it looks like it's just crossing the 3C downtrend line so some slight strength from the 10 min may be bleeding over.

I'd expect some lateral consolidation, we'll keep an eye out  looking for the sweet spot.

The 60 min chart is a very positive divergence and this is ultimately where RIMM's strength is found.