Peter Worden's Blog

I have continued to post favorable comments on RIMM through my Worden Notes in TeleChart. The stock price continues to make its way higher on respectable short-term technicals. MACD remains in a buy mode (green price bars), TSV and its moving average are above the zero-line and my Worden Stochastic has yet to rollover and move down from overbought territory. RIMM has had a rather impressive move from the early December low and I expect some overhead resistance to come into play at my lateral trend line if not before. My lateral trend line is drawn from the early November high. 

This daily chart shows a series of positive TSV divergences with price. Additionally, TSV is back above both its moving average and the zero-line. This encouraging action in RIMM would seem to bode well for the prospect of a tradable bottom here for the NASDAQ and probably the other major stock indexes, as well.

Prior to the open this morning, I posted a Worden Note on RIMM in TeleChart. The stock rallied nicely today and looks good for more upside. This hourly chart shows a bullish signal actually occurred yesterday morning.