Research in Motion (RIMM) broke above resistance with a sharp advance in early trading on Monday. The chart shows resistance around 72 from the December-February highs. In addition, a small inverse head-and-shoulders formed over the last three weeks and RSI held momentum support at 50.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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.
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