Research In Motion
Research In Motion (RIMM) is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market. This stock is trading up 5.3% at $14.16 in recent trading.
Today's Volume: 19.3 millionAverage Volume: 21.98 million Volume % Change: 54% Shares of RIMM are spiking higher today off of rumors that Samsung Electronics is looking to make a minority investment (possibly $1.5 billion) in the company and to develop phones based on its "BBIO" operating system. From a technical perspective, RIMM recently found some buying interest at $12.83, which happens to be very close to a previous support zone at $12.45. Traders should only look for long baised trades in RIMM if this stock can manage to get back above its 50-day moving average of $15.24 on high-volume and above some near-term overhead resistance at $15.45. If shares of RIMM can clear those levels with volume, then this stock could have some significant upside. Look for volume on that move that's near or well above 21,978,200 shares. Research In Motion, one of Greenlight Capital's holdings, shows up on a list of 10 Stocks Owned by the Best Fund Managers.
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