Ah, the one that got away... at least for me. However, some traders may have caught the RIMM long trade, originally posted as a setup on Sept 12th. On Sept 27th, I posted that RIMM was trading up very sharply in after-hours and would gap up too far above the pattern to trigger an objective [...]
when you trade and track many different stocks at once, every now & then a few nice buying opportunities slip through your fingers. regarding the recent RIMM long setup (click on the blue "RIMM" symbol at the bottom of this post to view the recent RIMM posts), on friday i highlighted how the stock had [...]
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 [...]
fyi- the RIMM long setup, which was added on sept 12th will most likely gap up tomorrow morning as the stock is trading up sharply in the after-hours trading session following their earnings release. i wanted to point this out for two reasons: 1) as the stock recently had two intraday breakouts above that trendline [...]
RIMM would trigger a long entry on a break of this downtrend line. if this setup does breakout and the market techincals improve somewhat, i may add it to the Long-Term Trade idea category.
the active RIMM long trade continues to appear to be trying to pound out a bottom and has once again broken above the primary downtrend (last thursday), successfully retested it, and has moved higher for the 3rd day in a row so far. as i mentioned, this is a potentially longer-term trade but as a [...]
like FSLR, RIMM is another recent failed break-out candidate that's still on my watch-list as possible bottoming, or at least bounce candidate. as the previous weekly chart shows, RIMM is just barely, but still clinging to a critical shelf of support. watching this one for another break of the daily downtrend line.