Research In Motion Jumps But Be Careful
Research In Motion (RIMM),
the maker of the popular BlackBerry product line, jumped today after the
company posted better than expected third-quarter results and raised guidance
for the next quarter. But RIMM is still on the price downside that started
after the stock peaked at $133 last November.
It's possible that the RIMM could regain its former upside momentum,
but it would face resistance from the $118 range to its old highs.
And with a price-to-earnings ratio of over 60, the stock is still expensive.
Be careful with RIMM.
Related Articles:
Price Patterns - Resistance
Levels Are Barriers to Price Upsides
Research In Motion Will Not Go
Up Forever
Research In Motion Is Just a Little
Too Hot
Ugly Downsides - Avoid the Price
Downside
Posted December 21, 2007.
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