kungfuguo
Long

IBM Daily Analysis 1/1/2014

BATS:IBM   INTERNATIONAL BUSINESS MACHS
182 2 1
IBM             Looking strong. It break out of the $172-$186 area yesterday. It broke through the down-ward resistance as well as Oct             14's high before the gap. Overall, I think we are cleared to go up to $194, which is the next major area of resistance (Sept high). I think the stock may consolidate a bit either before or after reaching $194, as it will have become overbought.

The second target is $198. I think we will get there in Feb.

Long IBM             . Jan $180 Calls BTO 12/31/13.
double bottom pattern in play since we broke previous high
Reply
kungfuguo
2 years ago
Agreed. Textbook double bottom play. Neck line at $186. Bullish.
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