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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

7 Extreme Stocks to Trade in This Volatile Market

Stocks in this article: CREE PAA RIMM HD SHLD NRP EDMC

Research In Motion

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Exreme: Oversold; RSI at 22.36

Nearest Resistance: $16

Nearest Support: $12.45 Research In Motion (RIMM) has been Wall Street's whipping boy for a while now, eroding most of shareholders' equity -- over 76% this year -- as rivals such as Apple (AAPL) took vast amounts of market share from the once-dominant BlackBerry. But the carnage could be ending thanks to a reversal in RSI.

While it's a mistake to sell just because RSI goes oversold, the swing from oversold to neutral (crossing above 30) can be a much more important buy signal. That's what we're seeing in RIMM now, with shares up more than 10% today thanks to an overcorrection from a post-earnings selloff.

I'd recommend sitting on the sidelines until nearest resistance at $16 gets taken out. More eager traders who want to take a position now would do well to keep a protective stop at $12.45.

Research In Motion shows up on a recent list of 6 Tech Stocks to Avoid in 2012.

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