Stock Picks – Research In Motion-RIMM

by Sam Collins | March 3, 2010 3:51 am

 

Research In Motion (RIMM[1]) – The BlackBerry maker has been under pressure while its chief competitor, Apple (AAPL[2]), with its iPhone, has been a star performer. But it could be time to load up on RIMM as a renewed emphasis on broadband power by Cisco Systems (CSCO[3]) focuses on the ability of smartphones to operate at faster speeds with more data. 

 

 

 

On Monday, RIMM broke from a triple-top at $72 into a gap created on Sept. 25, from $82.72 to $71.42, and did it on very high volume[4]. The stock closed nicely above its 200-day moving average[5].

The target for the stock is closure of the gap at $83. S&P has a “four-star buy” on RIMM with a target of $90.

Related Articles:

• Get Positioned for a Market Reversal[6]
• Turn Palm’s Smartphone Pain Into Your Gain[7]
• 5 Ways to Tell a Stock is Headed Up[8]

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