This Is Why You Should Look For The Second Opportunity
Research in Motion (RIMM)
gapped up at the open and hit its intraday high at 9:32 AM. As we
expected, the stock began to pull back. At 9:39, RIMM formed a doji bar right at
the 20-period EMA on the 1-minute chart. I thought the stock was ready for a
recovery rally, so I placed a buy stop at 82.29.
09:40:56 (From TradersWire)
| Action | Symbol | Order Type | Setup | Stop | Current Price |
| Buy | RIMM | stop at 82.89 | Pullback | 82.75 | 82.80 |
RIMM did not give the result I was looking for.
It broke down below the 20-period EMA.
09:42:54
Follow up on RIMM
I kept on following the stock.
I saw the first bottoming sign around 10:30. RIMM shaped a hammer. Notice, the
stochastic is positively diverging. After confirming a 1-2-3 bottom, we placed a
buy stop at 80.20.
11:17:29
| Action | Symbol | Order Type | Setup | Stop | Current Price |
| Buy | RIMM | stop at 80.20 | 1,2,3 Bottom |
79.98 | 80.14 |
11:21:44
Follow up on RIMM
Have a productive afternoon session.
If you have questions, feel free to mail them to me.
Â