RIM In Downward Motion

Research In Motion Ltd. (NASDAQ:RIMM) is one of the leading mobile device makers in the world. The stock has been weak on the daily charts since topping out on February 18, 2011 at $70.54 a share. The stock is declining again this morning by $1.00 to $61.40 a share. Traders can watch the $60.95 area for intra-day support. Please remember that the major stock indexes are weak today and this support level may not hold up very long if the market declines further. The next Intra-day support area would be around the $60.50 area.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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