Support & Resistance Levels - 6/24/10
Resistance levels: $54.26, $61.57, $58.88
Support levels:$54.57, $52.95, $50.26
Shares of Research In Motion Ltd is down in AH on Thursday because of earning news.Shares of RIM tumbled more than 5 percent in after-hour trade even as the company said profit rose almost 20 percent, more than expected.But a 24 percent jump in revenue was lighter than forecast, as were the quarterly numbers on new subscribers and and unit shipments. Gross profit margin receded, suggesting that low-priced models were a growing part of the sales mix.Overall, the results did little to dispel the perception that competition from the likes of Apple's (AAPL.O) iPhone and Motorola's (MOT.N) Droid is stiffening.Charter Equity analyst Ed Snyder said investors were hoping to see more phones sold, with stronger profit margins.Company beat but they are loosing market share from Apple. Next key resistance level $63-$64 and support level is $55. If broke $55 stock could go under $50 in few days.I think stock is good buy in $50 level.
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