RIMM was yet again rejected from $62 on Friday's open. It hasn't completely ruined the pennant pattern formed, but it seams to lean more bearish here:
Perhaps it's just bear-trap selling before earnings? (announced Thursday 4 EST).Watching RIMM closely. Has formed a pennant just under a congestion band (between $62 & 63). A measured move out of this pennant could end up filling the empty air left from the gap back in May.
It has gotten some momentum pushes out of $62 in the past that were quickly sold. More recently it seems to be comfortably basing around that same number.
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