Research In Motion Limited (NASDAQ:RIMM) jumped higher today on analysts upgrades. The stock has been stuck in a major range of late, unable to break through key resistance. That may be over today, finally.
The stock is up $3.70 (5.25%) today. The key was the massive resistance the stock was seeing at $71.50. This resistance level is known as gap window. The stock has hit this key level many times in the past few months but never had a day when it closed above it. The gap window stretches all the way back to the key break down off of earnings back on September 25th, 2009.
With the stock trading over $73.00 today, it looks very likely it will close above the master level of $71.50. If that happens, Research In Motion may see a continued uptrend towards gap fill. Research In Motion will report earnings later this month.
