With everyone chasing the crowded trade in Apple (AAPL), most have shunned away from Research in Motion (RIMM). Albeit they didn't report blowout numbers or a bullish outlook, still the stock, in my opinion remains undervalued & oversold. I suggested it this month at an entry price of $69.50. I've posted 2 charts today a nearterm focus, with bullish divergent patterns along with a longerterm chart w/200 & 400 ma's. Bottom line Upside $80...downside STOP $60 [2:1]
Research In Motion yesterday released an updated version of its BlackBerry Bold, which the company hopes will help reassert its dominance in the professional market, according to a Reuters article. The company's retail consumer business has come under growing pressure from Apple's iPhone. In the broader consumer marker, RIM has seen competition from Apple's iPhone and handsets from Nokia. The updated Bold's 9700 new features are targeted at defending the business market from the threat of Apple entering it, and are also aimed at attracting wealthier retail users. ~story link~
Don't forget, although RIMM, who still lead in US sales, lost market share to Apple last quarter, it is still gaining globally.
*click charts to expand images
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