IBM bounce off of trend line and 200 EMA
After strong break up of $190 resistance it caught some follow through right to $199, but then dissapointing was released and it dropped on powerful gap down.
Series of lower highs and lower lows means that it is in down trend and sellers are in control as it is trading below all key moving averages.
ENTRY trigger below previous low of the day at $186. STOP above high and 200 at $188 makes sence. TARGET #1 at previous low $182 then we have major support at $172. Risk/Reward 1:2 makes this trade worth taking.
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