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Wednesday, April 11, 2007 

RIMM - Big drop in after hours

Chart courtesy of stockchart

Shares of RIMM was down 1.54% or 2.29$ to 146.02 today, however in after hours stock drop more than 6% after reported a sharply higher fourth-quarter profit that met expectations, as the company added about a million subscribers and forecast more growth for the upcoming quarter. RIM said it earned $187.9 million, or 99 cents a share, in the three months ended March 3. That was up from a profit of $18.4 million, or 10 cents a share, in the same period a year earlier. In the daily chart we start to see some weakness in the stock with MACD+RSI starts to moving down, however this situation must be confirmed in the next sessions, because uptrend is still in place. Following the trading in after-hours stock probably it will open tomorrow in GAP down, and I see some support at 137$ ( 50 dma ). RIMM will be one of the hot stocks tomorrow.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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