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Tuesday, November 9, 2010

follow-up

After the previous post regarding the 2x bar setup, I'll keep going with RIMM:
Daily....a breakdown of $54.76 should trigger a few tight stops
At any rate, the previous midpoint (based on Friday's range) was $55.91 (yellow dash line).  While the current midpoint is the purple line at $55.75.  Also on the chart are some target lines at $55 and $54.50 (based on previous S/R).
Patience prevailed while giving time for the H&S pattern to develop as we approached noon,  giving a good pullback entry at or previous day's midpoint.

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