95 is not just possible, it's definate. More likely to touch $80 near-term, and rise to $95 long term. Longs in this stock are delusional, this is why:
- uh, look at the chart. no brainer. 1) up from $70 in two months, most of it in the past week; 2) way overbought; 3) recession and/or economic downturn is certain, which will bring about a correction; 4) economic downturn will cause businesses to be less inclined to buy the new blackberry gear (and RIMM's revenues are almost entirely based on business sales); 5) stock is already overpriced as it is; and 6) in any event, motorola and microsoft will destroy RIMM anyway, probably this x-mas season.
um, not to be rude but, DUH! You have to be nuts buying at this price. Even $95 is way to high.
The web site you refered to has many general technical indicators that by the text book say this is in the buy mode. What the web site does not go into is the fact that looking closely at any of these technical indicators shows the stock is way over bought. When ever the daily price gets too far away from a longer term moving average it will tend to move back toward that moving average. (Stock price going up toward a higher moving average and down toward a lower moving average)
Nothing goes straight up or straight down. Even if RIMM goes to $120 in the next few days, it will eventually settle back down and at least test a longer term moving average.
In the last few days I have been selling short to build a position with an average of about $103.50. Even if I settle for paper losses for the next few days, I believe we will see $100 long before we see $120.
Is $95 possible?? You bet!!! I believe in the next few days we will start back down and at least see $100, and more likely see $90 in the next couple of weeks.