Monday, June 11, 2012

RIMM ~ Update ~ 11 June 2012

A reader asked me whether I could post an EW count on RIMM. Here you go ; )

I'm probably biased because I got an iphone and no blackberry but I tried to be as objective as possible:

I think RIMM is forming a zigzag from the top in 2008. It looks like we're at the end of the third wave of wave [C]. Next should be a fourth wave correction to 12.5-15 $ followed by another sell-off to new lows to complete the zigzag.

If we get above 15 $ wave [C] is probably over.