RIMM currently sits on top of a prior gap support level ($58) created back in April. Price tested that gap on Nov. 2nd and reversed strongly. It then tested it again on the 20th of Nov. and couldn't get much of a rally behind it, leading to Friday's gap down.
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Should RIMM slip into this gap range I'd be looking for potential support at around $56.5 (78.6% retracement and 61.8% Fib extension), followed by the $54 area (previous lows & 100% Fib extension).
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Should we bounce from here, look for possible resistance come into play at an overhead trendline ($59-$60).
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A bounce, we look for short opportunities either at the PDH's, the 50EMA, or overhead trendlines (depending on how strong the bounce is).
If price can't get beyond the 20EMA and PDH's we look to play a base break of the $58 level.
If we gap down from here we look to sell pullbacks (either in a trend scenario, or a retest of the base).
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