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December 3, 2012

Chart of two dying stars

Dell Inc was upgraded by Goldman Sachs and this stock is up almost 5% today. Let's see the daily chart on this puppy:

This stock has been in a solid downtrend since April of this year and there are a few clear levels that were support and now should act as resistance. Looking at this chart, it reminded me of a chart I saw earlier today. This chart happens to remind of a company that's in a similar position, except with smart phones and not PCs. And the winner is.... RIMM:

RIMM has been in a downtrend since early 2011 (actually since Apple released iPhone 1), and now it's at a critical level of resistance which was support before breaking underneath. It should be fun to see who wins, buyers or sellers and if we're going to see RIMM back in single digits again. Dell and RIMM charts are similar as they both have clear levels of support/resistance that these stocks can be traded against. Make sure you understand risks involved buying or selling any security and speak to a professional before taking this risk.