Stodgy old NYSE:IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking. For those wondering, the chart I am using is LevelUp right here on TV. You might want to research it, I find it helpful.
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Here is a 5 min chart not quite 25 minutes into the trading day. If this keeps going I may bring up to a full sized position. TBD.
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NYSE:IBM - I just brought this up to a full sized position. My stop will be just below yesterdays low of 181.93. Let's see how it plays out.
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NYSE:IBM - This 5 min. chart is just a thing of beauty... just nice and slow upward push.
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NYSE:IBM continues it's consolidation forming another flat base. I am still holding a 1/2 size position and I have my stop in place. So far so good even though I am a little under water. Should it break above the blue horizontal line I will bring it up to a full size position. All TBD.
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NYSE:IBM finally breaking above the blue short term resistance area. Adding 1/4 more size to 3/4 sizing.
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IBM Continues it's slow march higher. As of yesterday I am in a full size position. I may add and bring up to 125% if we get a daily pullback. All TBD.
Trade closed manually
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I closed this position this morning for a small profit. I have to rethink continuing to ladder in. My cost basis kept creeping up along with the stock price.
Nice work! I'm a little late to the party (although I still think there is more upside to go) - but I like the writeup you did here!
jaxdog
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@rationallyirrationalkid, Thank you. It did pullback this morning and is back on the rise now. I have no idea how much it will go but, I now have enough cushion with a 125% size to hold unless it closes below the 21 ema.