RIM update

Rim took it on the chin in the last year after, ofcourse, a beautiful 5 wave up-move into the clouds. See chart, enlrge by clicking on it.rimm-bigchart1

Notice the nice 5 waves up and also the US$30 high preceding that. If this stock has another major leg up to go in the future it should not break that (about C$39) So when it reached $44 C it was a buy (I did not yet have this website at the time.) The pattern of the last leg down, a diagonal triangle in EW terms almost guarantees a return to its starting point. So far so good.


It is already up $20 from the low , or about 50% (makes up for Nova) but should go further to $72 and perhaps even higher. Personally I would not want to outstay my welcome and would run close to $70