What is happening to RIM? It keeps going down. Should I keep my stock or get rid of it?
On June 17 RIM hit $150. per share. On June 29 it is down to $119. What is happening? Is it worth holding on to during the summer while keeping great expectations for the fall?
Answers
2183 points
ChaosNantuko answered one year ago …
the drop seems to be slowing down, but until we see some upwards movement, I'd recommend selling the stock, and buying it back once the uptrend seems to have resumed
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116 points
madmike117 answered one year ago …
The stock has stopped falling at the prioer swing low from May 1st. Let it ride here for a bit and see if it can get swept up in the Nasdaqs historically outperforming period in the first week of July. If this swing low gets broken, it also has support of its 200day moving average at 115, so $3 in additional losses isn't much in relation to where you are. I would wait it out and maybe stop at $114.50.
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madmike117 answered one year ago …
Sorry, the 200day moving average is at $113, and that would be $5 in additional losses. I was looking at the wrong average.
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madmike117 answered one year ago …
Well, today RIMM is down 1%.. However, it has reached the 200 day Moving Average and reverse up, forming a hammer. This may be where it finds support, but if it breaks below $113, I would dump the stock.
Hope this helps.
411 points
jester112358 answered one year ago …
Stocks like RIMM have very high expections baked into their prices. So, even the slightest disappointment causes some profit taking. I'd hold at these levels. Their business prospects are still excellent and they essentially have no competitors in their business sector. They are just a little overpriced. So, if you bought some time back this retraction from an all time high means very little long term.
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