IBM has continued testing and bouncing off the down trend resistance line. Past two attempts saw drops back down to what's now the bottom Bollinger band at around 172-173. IBM has under performed its sector for several months now, and has seen extended negative correlation with NDXT as it continues making higher highs.
---- Dogs of the Dow play for 2014....
Wait for price to near the Upper Parallel before shorting.
Reverse from an important resistance , down trend top and a doji candle and a barrel to confirm it with high Short volume and high put option volume IBM NovWk5 185 Put 1.85 1.79 1.87 1,193 Good luck !
Ideal sell limit from 87,58 fibo, but in the event of positive statistics, the breakdown of resist and possible movement towards 194
IBM - Downtrend Channel - Watch Price Bounce In Accumulation
Sorry gents... know it's after the fact but not a stock I normally trade so haven't followed it. Nice to know and see .....what comes up has to come down: BM Music at work: www.youtube.com
IBM just announced that their sales have dropped for the 6th straight quarter. Obviously this does not bode well for the stock in the short term. In fact, they have been in a steady downtrend for the majority of 2013. I don't see any reason that this should change any time soon.
When everyone one is bearish on a mega cap stock, then it should peak your interest.....
Support at 180 then 169. Not bullish IMO for the $DJIA $DIA
IBM has shown poor relative strength, and is now close to breaking a long term up-trendline.
Overall uptrend. Wait for nice retracement down to the u-mlh for entry.
Despite beating on earnings, IBM missed revenue targets last week Bearish candle last week showing low demand Look for a breakout below the 100 week MA for confirmation Price targets shown on chart . First 181.46, then 168.31 Price far above 200 week SMA. Large potential downside or mean reversion
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 .