TMCnet News
Downgrade Alert for Research In Motion (RIMM)Dec 21, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Research In Motion (NASDAQ:RIMM) was downgraded from Buy to Hold at Hudson Square today. The stock closed yesterday at $14.12 on volume of 40.9 million shares, above average daily volume of 40.4 million. In the past 52 weeks, shares of Research In Motion have traded between a low of $6.22 and a high of $45.91 and closed yesterday at $14.12, which is 127% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 6.2%. Based on a current price of $14.12, Research In Motion is currently 29.3% above its average consensus analyst price target of $9.99. The stock should find initial support at its 200-day moving average (MA) of $9.88 and further support at its 50-day MA of $9.52. Research In Motion Limited (RIM) designs, manufactures, and markets wireless solutions for the worldwide mobile communications market. The Company provides platforms and solutions for access to email, phone, SMS messaging, Internet, and Intranet-based applications. SmarTrend recommended that subscribers consider buying shares of Research In Motion on October 2nd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.14. Since that recommendation, shares of Research In Motion have risen 73.6%. We continue to monitor RIMM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |