aspect11
Long

IBM, eyeing small pullback for long entry

NYSE:IBM   INTERNATIONAL BUSINESS MACHINES CORP
EMA 13/48 cross took place yesterday. Waiting for small pullback for a better long entry. Price is finally more coiled up after larger chaotic movement.
Price resisted at the confluence of the A) natural 1.27 extension of the Feb 27 to Mar 02 swing, B) Jan 17 to Feb 19 . 618 retracement .
Looking for 157-158 entry, profit target 162-164.
Comment: Price declined as desired into Entry area at upper 157.
Price then moved to a high of 161.98, very near profit target.
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