Entries in Cup and Handle (1)
Research In Motion (RIMM) Reaches Highs
Price Patterns
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PrintResearch In Motion (RIMM) has been really good to me over the last month. The stock has steadily trended higher over this period, using an ascending channel. RIMM has reached its 52-week high and may pause, but the intermediate-term outlook is most favorable.
Last time I checked in with RIMM was in early April. Since then, the stock is up by about $15. You can read my past analysis of RIMM by following the link below:
Research In Motion (RIMM) Rides the Trend Higher
Recently, RIMM has been bouncing around near its 52-week high. The stock might pause at these levels, especially if the broader market softens. (Remember the old trader phase: Sell in May and go away.)
Looking beyond the summer, RIMM could be forming a cup and handle. The cup portion of this bullish continuation pattern has already formed. The handle could unfold over the next few months.
Of course, RIMM could rip higher this summer if the NASDAQ rallies. RIMM is on the top of my buy list if the broader tech sector does breakout.
