the RIMM setup opened right under T1, which of course is resistance, thereby definitely not an objective entry and as such, this will not trigger the long setup. the gap is too high to chase and the fact that the stock gapped up to just below a key resistance level, if anything, makes RIMM more of a short at the open than a long. however, just to be clear, i am not recommending a short of RIMM as overall, the convincing gap above that long-term downtrend line is longer-term bullish as long as it sticks. of course, if the stock were to manage a convincing move above T1, it might provide a decent long entry with the appropriate stop below that level. for now i will remove RIMM from the trade setups category and i will keep an eye on it for a possible entry here in the near future.
