ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Over the past two months or so, analysts have rolled out a series of positive commentaries on the prospects for Research In Motion (RIMM) and its upcoming earnings announcement (March 31). The table below shows the wide range of upgrades and bullish price targets from various analysts. In addition, at least four analysts have issued … Read more
It took a lot of patience, but Research In Motion Ltd. (RIMM) finally broke out yesterday above the $72 resistance level. The chart below summarizes the bullish technical set-up. *Chart created using TeleChart: RIMM fascinates because it is one of those stocks that attracts what I call “passionistas” – people with extremely strong and adamant … Read more
Research In Motion (RIMM) is riding a bit of upward momentum into this week’s Mobile World Congress conference in Barcelona. The chart below shows that RIMM has broken above the 200-day moving average (DMA) on above average volume. If RIMM finally breaks the $72 resistance line, it could run up relatively quickly to fill September’s … Read more
Last night, Research In Motion (RIMM) released an earnings report that exceeded analyst expectations, produced strong guidance, and was well-received by the market. I took particular interest in RIMM’s share repurchase activity. RIMM used $775M to purchase 12.3M shares at an average price of $63 per share (full details noted in Seeking Alpha’s transcripts of … Read more
The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program. Overall daily volume surged for three days along with price. The stock then … Read more