RIM as per my last blog on June 2 ,2011, could go as low as $25. Now that we are getting a little closer it is possible to refine the target to something in the order of $31 or so. As popular as this stock once was, so unpopular it is now. Every analyst is crawling over the next guy to come up with even lower targets. Each leg in this structure should have an intermission somewhere in the middle. That has happened perhaps,but it is hardly discernable with the naked eye which explains why it seems to have gone straight down.
The good news is, that if we hit the target (and we can turn anytime now at these levels!!) this stock should go straight up. $45 is the very minimum, $70 is very reasonable and, if this is the pattern I think it is $90. (see June 2 blog).