Research in Motion (RIMM) has been one of the best performing stocks since late September. There is, however, evidence that the advance has exhausted itself as RIMM filled last week's gap above 16. This fill makes it an exhaustion gap that could give way to a retracement of the prior advance. A 50-61.80% decline would extend to the 11-12 area.
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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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