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By Chip Brian, SmarTrend Analytics Team
Research in Motion (NASDAQ:RIMM) downgraded to Sell from Buy, $54 target, at Citigroup. The stock closed Friday at $58.73 on volume of 21,632,353 shares, above average daily volume of 16,773,270.
Research In Motion is currently below its 50-day moving average of $72.56 and below its 200-day moving average of $65.63.
SmarTrend is bearish on shares of RIMM and our subscribers received a Downtrend alert on September 25, 2009 at $69.94, which has returned 16% to date.
Contact Chip Brian
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