We are stopping the fall at a triple support: the April and August high, the Pivot(floor traders' calculation) and the 38 % retracement of the rise since 13th October. In my opinion this is good for an upward correction ahead of the year end, the more that the IBM share may be considered as a must have for window dressers due to the impressive rise this year.
Trade closed: stop reached:
The deal has been stopped already as we fell through the important pivot point to fast. I will short the stock now.