RIMM broke out based on a catalyst. It was basing for 5 weeks in a cup formation which is not complete yet. After being sold off viciously by these perma bears its volume receded and it went into textbook example of forming a nice base. The breakout occured on a news piece and with mega volume of 42 million shares traded with a breakawy gap, that will be hard to fill. I bought RIMM towards the close when the gap seemed impossible to fade and it did stay 8.99 points up even when all the major indexes were down considerably. RIMM will go higher from here and the traget price is 115 today.
You gotta be joking... RIMM had the exact same pattern /gap up on huge volume break down just a couple months ago. Look at December...cup and handle..broke out with a gap up and then cascaded back down to fill the gap AND go on to new lows. Same thing is going to happen again.