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TFC Commodity Trading Forum

RIMM/ It's BAAAAAAAAAKKK *PIC*

Remember this RIMM chart I posted when price was bumping up against 8.32 resistance with everyone and his dog hating this 'dog'. Well the big boys are taking advantage of this situation and price did breakout over 8.32 resistance,ran up to 9.20 and then in classic techncial fashion pulled back to the breakout point to 'test' this breakout point as support. Support held up and price has now rallied all the way to next price resistance at 9.57. Should price "clear and hold" above 9.57 next resistance is 12.45. Still no one paying much attention yet. Note the similarity of this price pattern with Nat Gas. When everyone is puking and throwing in the towel on a market in complete disgust but has actual value this type of pattern often occurs.