Two Takes on Research In Motion: Daily
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To view the breakout on RIMM's intraday chart, click here.
The psychological 10 level appears to be a near-term floor. Without much technical resistance until the 12.50 area, risk/reward looks good here.
Big 11-strike put open interest in the June series. If the shares manage to rally above this strike, there is increased short-covering potential related to the expiration of the put open interest.
The low on 5/29 was $10.88, the day before an 11 percent gap lower following a business update.
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