RIMM - (Exit 1/10/11)

Today the market opened with a negative tone. RIMM gapped down on the open and triggered the protective stop of $60.93. In the afternoon around 1:00 pm, it started its move to fill the opening gap and ended the day with a small gain and testing the $62 level once again.

This swing long trade closed with a 0.71R profit.

Below is the 5 minutes intraday chart showing where the protective stop was and when it was hit.

Intraday:




RIMM technically still positive, but no need to chase it. I will continue to monitor for the next long setup above the $62 level or near the $59 support region.

Daily: