The following is technical analysis on Research In Motion Ltd. (RIMM) stock for December 18, 2009.Research In Motion Ltd. (RIMM) - Support and Resistance Levels - 12/18/09
Resistance Levels - $71.42, $71.60, $75, $82.72
Support Levels - $67.82, $65, $63.50
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Research In Motion Ltd. (RIMM) reported a powerful earnings report last night and upped guidance for the current quarter. RIMM is now trading over all three major moving averages and if the stock can remain above $69, the chance of another up move is large. The day after the last earnings report, RIMM tanked with the daily high being $71.42. The low was $68.47. A close over $71.42 would set up a move toward the $80's. A close below $67.82 would be bearish and I'd look for a retest of $65. Watch $71.42!
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