RIMM: Daily chart action consolidating as technicals indicators go neutral

The daily chart action of Research in Motion (RIMM ) has begun a consolidating pattern. The shorts are calling for a top while bulls maintain a base is building for future new highs.

I find consolidations a time for a stock to tip its hand in the form of price reaction to future news about the company; price action which suggest current "hidden" sentiment about future company developments.

While fundamental news continues to be strong regarding the release of Pearl, its newest Blackberry technology, an argument for eroding sentiment of RIMM may be reaching its nadir as greater earnings and product surprises have reached a cycle high. Daily technical momentum has waned while moving averages have flattened out. Technicians believe that price comes first discounting all available information. Stay tuned on RIMM !