Hey Blackberrians, here’s the skinny on Research in Motion (RIMM) (January 18, 2013)
BBRY
I’m Dan Fitzpatrick at Stock and OptionMarketMentor.com on the three-day weekend. I want to take a look at Research In Motion ( $RIMM Research In Motion Limited (USA) ) here. I’ve zoomed way out, still in a daily timeframe so you can see the trajectory of the stock, it looks like a ski slope, turning into a little ski jump here. So you look at this one, big, long base looking for more upside, now let’s zoom in. Now remember, this stock got way extended above here to where it almost had to sell off in response to earnings and that’s what happened. But now this stocks back above the post-earnings, excuse me, pre-earnings enthusiasm high; we just continue to trickle higher here, there’s some optimism that the BlackBerry 10 is going to be well-received and, you know, and all this, maybe they’re going to get some customers from Apple ( $ AAPL Apple Inc ) coming back, maybe, I don’t know, but the stock is responding well. You look at it in this timeframe and it’s scary, I wouldn’t be buying it at $16.00, not when the stock could go back to $13.00 pretty easily, but again if you zoom way out you’ll see that you actually have a chance to be buying Research In Motion ( $RIMM Research In Motion Limited (USA) ) at a relative low. Now if you were expecting it to come back to this level you’re probably high, I don’t think it’s going to do that, but we’ll probably get more upside. What I would suggest doing on Research In Motion ( $RIMM Research In Motion Limited (USA) ) is, any kind of a pullback closer to the 50-day moving average is a pull back that would actually work. Just know that this move is the catalyst for that is the BlackBerry 10, so once they release that and we start seeing some more fundamental data you’re going to know whether that move was real or not, or will continue, I should say. It is real, if you’re long you’re making money, so anyway just keep that in mind, this is not some big mega call to buy this stock because it’s going to $35.00 or $40.00, rather it’s a call to say, “Stock is working, any kind of pullback is a pullback that you want to buy.” Okay members, a lot of video content on the Weekend Update, in the Sector Spotlight we’re looking at the oil patch, I’m looking at several energy names, they’re really starting to look really, really juicy so I want you to get over there and spend some time with that. Okay, have a good day. Free Chart