RIM june 20 2011

is going down beyond my initial target. Looking at it on a log-scale it is still possible that the pattern is correct but that notion would have to be abandoned if this continues another day. What is unclear is what the count would be if the “wedge’ does not work. A series of 1-2s from the initial $90 level is a possibility but that would be extremely bearish and , at this time at least, improbable.

Not that it means much but the RSI is at the lowest level in 3 years!

RIM rsi