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christianmartin4746

IBM dip buy coming

Long
International Business Machines Corporation (NYSE:IBM)  
christianmartin4746 Updated   
NYSE:IBM   International Business Machines Corporation
Fibonacci Earnings
2
0
fibonacci earnings
IBM, leading up to previous earnings, formed a bearish divergence and gapped down. IBM has not been this oversold (RSI) since this time last year, and indicators show a strong bullish momentum. Hour timeframes shows that dip buying has started.
Comment:
Perfect bounce off a support level

snapshot
Comment:
IBM formed double Doji at the bottom of a downtrend, indicators are pointing up and are severely oversold, the candles are about $4 from the 5 EMA (daily chart). Looking to go full position early in the morning if all looks well.

PRICE TARGET: $133

STOP LOSS $126.50

snapshot
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