The following is technical analysis on Research In Motion Ltd. (RIMM) stock for September 25, 2009.Research In Motion Ltd. (RIMM) - Support and Resistance Levels - 9/25/09
Resistance Levels - $71.47, $75, $76.77
Support Levels - $70, $65
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Research in Motion Ltd. (RIMM) released earnings last night and reported worse then expected sales. The stock is now hovering right around the $70 support level. Keep an eye on $71.42 which was Friday's high of the day. When RIMM breaks up above this level, I will buy RIMM for a trade as it will signal a trend reversal. I would also be buying RIMM if it can trade back around $65 per share. On the upside, besides $71.42, RIMM will have resistance at $75 and the 50 day moving average located at $76.77.
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