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In Response To: Re: RIMM / Trades *PIC* ()

I was watching this at its double bottom in September at 6.56. Price did breakdown below the July low by a little twice in September. Wasn't a double bottom anymore and needed more work to define the pattern. But see the strength at the last two lows in September that saw the RSI 21 and the Modified MACD showing very strong postive divergences on both new lows. So running up to the August rally high of 8.32 again in Oct confirmed the pattern as a Flat Top Broadening Formation. A breakout over that flat top of 8.32 that held confirmed the bullish pattern. And the rally higher and classic pullback to test support at the breakout point was successful and projects a continuation of the rally. Price is now riding the rising 20ema which crossed the 50ema in Oct for the 1st time in a year and a half. I don't follow fundamentals much as they change and what is reported isn't necessarily accurate. So I mainly follow the chart patterns as that is the one set of tracks that can't be camouflaged. But unlike patterns like this of markets that are crashing and burning RIMM does have finances and markets in the world. It is only weak "relative" to Apple etc. But now and again you'll see a market everyone detests and condemns as they have lost their shirt and respect trying to be bullish a market that falls and cleans everyone one. Then they are blind to anything they see as they can't accept the fact that it might actually be a buy again. Who'd believe them again is the problem. It's a perfect set up for smart money to get long and push it higher. I know nothing of the company actually but expect to hear "Good Things" about RIMM from the financial news media. Then at some point when all the b.s. is out there and the stock has rallied to the point of maximum profit targets, smart money will exit and the good news will turn bad again. Nothing new here. Unfortunately that can occur at any time so anyone long does have to be on their toes with a clear exit strategy. Pump and dump time could be right around the corner. All the best to you as well.