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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (35939)11/9/2000 8:06:18 PM
From: UnBelievable  Read Replies (2) of 436258
 
RIMM Price Targets

RIMM broke down from a rising wedge today, the target for that breakdown is 82.50.

The neckline of the head and shoulders it is forming is at 77.50, as is the 200 Day SMA.

The sucking sound that will be heard at that point is a double gap at 62.50.

The target for the head and shoulders breakdown would be about 37.50 where it should find some support from a gap from the end of May 2000 and a spike low from June 2000.

At that point the spike low from May 2000 at 23.25 will need to be tested.

It took 5 month to go from the low of 23.25 to the high of 130. I don't expect it take nearly as long to return.

In fact it took less than three months to go from the March 2000 high of 175 to the May low at 23.25.

Unlike PALM or HAND this company does not make handheld computers but it makes pagers and other electronic components used in wireless.

They do not have anywhere near the marketing, distribution, or research and development capabilities of a number of other companies with whom the compete including QCOM and MOT. In fact they probably do not do enough to constitute a product line, within an operating group, within a division of MOT.

It is not clear that they even have the intellectual property or infrastructure that would make them an attractive take over target when they reach their final price target at the March 1999 spike low, 7 5/8.

As always, actual mileage may vary.
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