IBM has set a record for the longest Swing trade in it's history that has hit a 3rd target without a significant retrace. A 10 year in-the-making Swing trade has recently hit a long-anticipated price that underscored that Very Long Term Swing trading is still very much alive in the stock market.
From a fundamental standpoint, IBM is a hard-to-beat choice for VLT Swing Trading as it has such an impressive pedigree and in the minds of many defines the very essence of the term blue chip. We see no reason to discount it as a viable choice for the LT investor and trader and deserves a place on the most traded list even though it has a relatively low beta.
Technically, IBM is in completely uncharted waters and the chart certainly has room for a sizable retrace in the coming year. We have identified the range in which many new shorts will be looking to enter a VLT Swing trade to the downside. Coupled with the fact that IBM has just reached an unprecedented 3rd target for such a long time-frame trade with the continued upward trend of the overall market, should make for some careful planning before committing to any sizable LT Swing shorts, in our opinion.
While maintaining a small cautious short by means of a mixture of leaps and OTM puts based on the LT chart level, we will trade short term long to capture upside swings until the picture becomes clearer.
Trade the chart and trade safe.
Comments
darcy_kincaid
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LT Swing Short being aggressively sold on the Week chart. IHS pattern broken.
Already have new entries and targets identified on all time-frames and they are working out nicely.
Next AAPL? In what way do you mean? Could you give us an idea how you interpret the channel beyond the obvious and how you would enter and exit, resistance and support, etc? Thanks.
Algokid
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Agreed.
admin
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Agreed.
darcy_kincaid
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We submitted this for a bulls eye but don't know why it is not acknowledged as such?
The chart was published 20 days ago and it is obvious by looking at the chart that the price at the time of publishing was around 203 and that it subsequently reached and reacted to the 207.70 Intermediate Swing Long 1st target identified. We believe the actual date was 09/12, in which case a look at the daily chart will reveal clearly that the analysis was correct and that the target was in fact reached two days after the chart was published.
We have noticed that for some reason when the "load new bars" arrow is pressed that it begins counting from a week later, but that does not accurately reflect the time the chart was published. Are bulls eyes computed from the time time that the chart is published or when tradingview updates the chart? It is somewhat confusing to us newer users.
We would appreciate any assistance you can provide to correct this situation. Thanks. dk