RIM shares slid 19% soon after Rim’s first-quarter report late Thursday June 28, 2012, contained a bigger than anticipated decline in revenue and a connected net reduction. The organization also pushed back the anticipated fall start of its BlackBerry 10.
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RIM fell with the Waterloo, Ont.-based company’s latest economic report. To place it mildly, they disappointed analysts and shocked shareholders on nearly every entrance. RIM reported that its revenues plunged forty three per cent in the past calendar year to $2.8 billion US, missing anticipations.,,Rumours have already been circulating for months that a possible purchaser could swoop in and choose up the corporate, and when no one gave the impression to be involved, issues emerged more than whether Heins would come to a decision to place a chunk of RIM up available for sale, I heard that it was most most likely its struggling hardware division.,,To put fuel around the hearth. A Morgan Stanley analyst reported that while the challenges at RIM are famous, it believes estimates for any business in the shape RIM is in. RIM shares will have to fall even more in the future.
RIM is in a tough predicament. The worse things get, the worse things get, the worse things get…you see what mean. When you look at the chart above, it’s not hard to see technically that RIM is a dud, for now. Your idea is as good as mine, whether or not this company is going to stand the test of time. Remember what kind of shape Apple was in a long time ago, look at Apple today, there huge.
RUSSELL 2000 JUNE 29, 2012 DAILY
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Lets look at the Russell 2000 now. Friday’s move was massive simply because of an EU aid deal. You can see the price went through 2 resistance lines in a bearish pattern.
Wall Street’s prior reaction to euro-zone bailout deals or other rescue plans were somewhat muted. Preliminary gains would rapidly disappear by the day’s finish as traders recognized that there isn’t a quick repair towards the region’s issues.
On Friday, it had been a different tale. The 3 significant U.S. inventory indexes jumped following the opening bell on news of the euro-zone arrangement.
click here to see the chart…HUI INDEX JUNE 29, 2012 DAILY
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Not much to say about the HUI index. From a momentum indicator point of view it looks like a buy at this level. I still have my junior miners from mid May yet.
Way to leverage yourself a little more with the stock market is to find companies that are leaders in there sector or are just plain outstanding. Just like RIM once was a leader, RIM is no more. One of the biggest mistakes investors, swing traders, speculators make is…they fall in love with a stock. Judging by the looks of RIM’s chart pattern, RIM has a long way to go before it consolidates getting ready to build the momentum it’s needs to break out of it’s consolidation. This should take a couple of years for RIM shares to build a base, I don’t this is going to happen fast with V trough.
The next pivot point date is still July 17th, 2012.
