Investors are continuing to warm up to Research In Motion Ltd.
Shares in the BlackBerry maker closed up 19 cents, or 2.1 per cent, at a fresh four-month high of $8.90 (U.S.) on the Nasdaq Monday, though this was off the intraday high of $9.17.
The stock's uptrend is getting investors talking. RIM social media conversations on StockTwits surged 500 per cent today from Friday, even though there was little fresh news. The stock is garnering more interest from a technical standpoint, having convincingly surpassed its two previous highs, in mid-August and early October, of just under $8.30.
Still, some chart watchers suggest the stock's pullback from its earlier highs makes for an ugly reversal day.
RIM’s U.S.-listed shares rallied 15 per cent last week amid news that its BlackBerry 10 phones have entered lab testing with 50 wireless carriers around the world. The phones, due in early 2013 after numerous delays, are crucial to RIM’s turnaround strategy.