IBM on the longer term is bullish however it is loosing momentum and setting up for a short. It needs to take out this fractal for the setup. According to Bill Williams when price is below the Jaw balance line it is easier for it to fall. This weeks candle looks ominous for the bulls. Will sell call spreads above for safety rather than buying puts or debit...
Shooting Star indicating to bearish direction , it will be confirmed with breaking out 188.72 , we will take the risk and make a PUT spread (Vertical) strike Aug 13 strike 195 @ 2 now .
New look Big Blue. Could 2013 rally(s) be headfakes out of dome? Bearflagging
Pin bar formation at a strong demand zone that was created by a strong move up. Pin bar at this level. Exit is at supply zone, where we see a strong change in momentum
Again, my theory is based on ancient geometry and various esoteric knowledge. If I'm correct, we should see a significant correction to a price target of 140 between 2016 and 2019. I guess I'll have to wait and see.
IBM has run into resistance on a daily chart, and has formed a nice top on a 5 minute chart.
"Not everything that counts can be counted, and not everything that can be counted counts." (Sign hanging in Einstein's office at Princeton)
IBM is still a big bell-weather, and it's recent weakness gets it close to it's 3 year up trendline.
Since 1993 IBM has been on a bull run. IBM bull run started out as a rising wedge pattern from late 1993 till about 1997. Irrational exuberance propelled the stock out of the wedge reaching a status of overbought (above upper purple line). The stock remained overbought for a few years until the Enron-World Com accounting scandals rocked the stock. IBM shares...