IBM is showing good consolidation and may be setting up for a breakout. Keep in mind IBM can be a slow mover so it may not break out fast. Tight stops are required as always based on my strategy. 1. Not up 3 days in a row 2. Linear previous momentum leg 3. Stock is in early phases of an uptrend i.e. not extended 4. Has not had a significant breakout or breakdown during the consolidation phase 5. Consolidation is nice and clean with narrow range days, lower volume , and can even be pointing down.