Research In Motion Limited (RIMM) pivot & Support Levels - 09/28/2011
Resistance levels: $10.95, $9.41, $8.36
Pivot point: $7.44
Research In Motion (RIMM): FQ2 EPS of -$0.27 beats by $0.19. Revenue of $2.87B (-31% Y/Y) beats by $370M. 7.4M BlackBerry shipments, 130K PlayBooks. Research In Motion's FQ2: BlackBerry subs totaled 80M, as forecast. Gross margin was 26%, down 200 bps Q/Q and 1270 bps Y/Y. Cash/investments +$100M Q/Q to $2.3B. BlackBerry shipments -5% Q/Q and -30% Y/Y, but better than feared. Operating loss expected for FQ3 (no surprise), but no specific guidance given. R&D expenses nearly flat Q/Q and sales/marketing up 1%, as job cuts get started.Emerging markets such as South Africa and Indonesia allowed Research In Motion to beat low FQ2 estimates - CEO Thorsten Heins nearly admitted as much during RIM's earnings call (live blog), though he also named the U.K. as a relatively strong market. Two things that are plunging: U.S. sales (now 22% of revenue, much of it from software/services) and headcount (over half of RIM's 5K planned job cuts are done). Heins claims RIM is on track to shed $1B/year in annual expenses by the end of FY13. RIMM +18.2% AH
Share of Research in Motion (RIMM) trading over $8 in ah Thursday good earning news. Research in Motion will have resistance on the upside level at $9 & $310. I think stock is bu near $6 any weakness.RIMM is a strong buy low $7 now.The only reason I am long RIMM can be pop up any takeover news .
For more Technical Analysis -Go Here
For the latest updates on the stock market, visit,
http://daytradingstock-blog.blogspot.com/
