The 65-day moving average is actually a very commonly-used moving average, and for those rallies or price breaks that "skid past" the 50-day moving average they often run into the 65-day moving average. We have to thank some of our trading friends for turning us on to the 65-day line for short-selling, and it has worked on RIMM reasonably well. So far the RIMM short we suggested earlier is showing a slight bit of downside movement, but no real price break yet. We might expect that confirmation of any downside move would be a clear, high-volume breach of the 50-day moving average, which is in fact around the 47.56 price level, as the daily chart below illustrates.
SSS - Follow-up on RIMM and the 65-Day Moving Average
|Published:||22 Oct 2010 18:06 ET|
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