Research in Motion Ltd. does not support a buy
At this point I have to maintain my stance that the risks outweigh the opportunity.
At this point I have to maintain my stance that the risks outweigh the opportunity.
If the shares make a sustained move above $22.00 it can run to $26.00 without much resistance.
The company has already warned on the quarter so in the best case scenario its probably a matter of better bad news than truly good news.
The three year chart at best indicates that AXX will retest support at $1.40 given the gap down in March of 2011.
At this point the best approach to RIM is to be patient. The prudent investor will want to see the indicators that they follow generating a buy signal.
This stock has given up 35% of its value since April of 2010 and it may have more ground to lose.
It looks like a case of buy high – sell higher.