OK funny thing starts to happen to my post.
You have to go to the following perma link to read my reply which somehow got blocked...must be worth the read :)
I posted and it got lost.
The chart says RIM is in an uptrend, interrupted by the fear spread by the short and media on the earnings night.
It is now at the bottom of an uptrend channel. The gap will close.
It also has the potential to be a big cup of tea and handle with a near term target of $17.9. (The base you are talking about is the bottom of the cup). This is also the number that I said will be the starting point when the shorts will start to cover. So far, they have been adding to their short position to keep it down.
That is not investing. It is called rolling the dice or guessing the price. It could go either way.
My approach is, focus on 2-3 years time and forget about the min to min, hour to hour and day to day price movement. I am just not a trader.
if ur a bull buy a little here and see if it double bottoms at 10.75....if it holds get a little more there....if it dowsnt save some dry powder for wherever it double bottoms....u need a solid base...dont get hasty