Don't Ignore This Chart!

Overbought RSI and resistance for RIMM

With an advance back to the low 70s, RIMM is one again trading near resistance. The stock was turned back here in mid October and mid December. Also notice that a harami formed on Friday-Tuesday and RSI become overbought last Friday. The 3 week trend is still up, but traders should watch this one carefully as it stalls at resistance.

100218rimm Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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