24-12-07 : RIMM for now

For now, we need to wait.

Daily & 15min both showed its not safe to long now. Need to wait for break 125 up.

daily
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15min
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24-12-07 : Future of RIMM after earning gap up (long term)

RIMM's $100 holds, and after earning it gaps to $120. Now at $118 area, we try to predict its future direction.

On the longer term, I expect RIMM price to reach $170 by May 2008. This analysis is done with help of Encyclopedia of Chart Pattern book (i shall refer to it as EOCP next time).

As you guys may have known I hold on to EOCP as bible of chart, i naturally refer to it to predict direction of stocks.

Daily chart with Box
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24-12-07 : GS's direction

Diamond was formed. Was broken down. $200 support was reached. As predicted. Diamond pattern is no longer useful.

Whats next ?

I look at each elements of daily chart, and try to form a generalized conclusion :
Daily chart :
(1) Candles - bearish
(2) Box - Bullish
(3) MA20,50,200 - Bearish
(4) MACD - Bearish
(5) Vol - Bullish

15min Chart :
(1) Box - Bearish
(2) MACD - Bearish

6 bearish and 2 bullish signs. Not good enough to confirm a down on Mon.

We use pivotal point of $210 as base.
Path 1 : Open below 210, and drop to $200 area.

Path 2 : Open above $210 and go to $216, assume no strength to reach down channel. Thus will retrace back to $210 or even $200 area.

If open below 210 and down, I will short GS.
If open above 210 and up I will wait to touch channel top, then short GS.

Thus I am overall bearish on GS, based on my analysis.

Daily with Candles
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Daily with Box & Channel
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Daily with MACD
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Daily with Vol
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Daily with MA20,50,200
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15min with MACD
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