WilliamL
Long

IBM , nice stair steps pattern

NYSE:IBM   INTERNATIONAL BUSINESS MACHINES CORPORATION
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Hey guys, as earnings came out friday, there was a nice breakout of stair steps pattern. I like this stock because that was a strong candle that gaps up and close very strongly with strong volume . This is the first green candle so that means that the stock is not over extended on the upside and i wont be surprise if this is the beginning of a bullish move. There was a lot of people who are trapped so i am expecting a strong upmove and i will buy it if the stock goes to 170.85 or higher depending on the gap tomorow.

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Yep, looks nice. The only thing that concerns me on IBM is the 200 SMA on a weekly chart. It's not something I look at often, but I track IBM ALL The time, so it's just good to know that it's there. I like it more bullish to non directional.
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