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RIMM Approaching it's Short Sale Entry Parameter


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#1 autobot

autobot

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Posted 16 February 2010 - 09:51 AM

RIMM is the Autobot’s stock of the week as it is extremely likely it will move powerfully next week. Aggressive traders could consider shorting 1/4 position on the open on Tuesday if the stock is not gapping higher than $71.75. If so then traders could consider placing a Sell Stop order under Friday’s lows to sell short a full position. The target for the trade is $64.70 currently. On the other side, the stock could potentially breakout of it’s base and head to the gap at $82.72. A gap higher that holds for the first hour is bullish. Autobot will then look for pullbacks on shorter time frames to enter this equity for a sharp rally higher over the coming days.

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