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Tuesday, 3 May 2011

RIMM - Hold or Fold?

RIMM's a hard stock to call. On the one hand you have strong earnings, decent growth, and a low P/E. On the other hand you have the Apple iPhone, which is head and shoulders above any other smartphone on the market.

Be that as it may, RIMM is reaching a critical support level, and whether that level holds or folds will tell us a lot about RIMM's prospects over the next few years. If it holds then RIMM is a very decent looking long here. If it folds then I'd expect RIMM to drop a lot further.
Support is in the 47 area, and there's a good prospect of a bounce into the 65-7 area if it reverses back up at support.

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