Heya fellow traders,
Back with my signature Flag and pole on a weekly chart with IBM. clear flag and pole formed from 2020 drop till today including the current bear market.
Oscillators shouting a BUY.
So, what are you waiting for. Small stop loss below the latest candle with a 70% return.
Thank me later !
Still waiting for a break above 132/133
Nice squeeze on top waiting for a power move.
Market cooperates, 135 is target to the upsise
Market weakens, we can try to catch a move towards 127
A giant flat about to enter the final leg. We are considering multiple entry and exit points, since the absolute magnitude of the fractal temporally.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level,...
Inside bar in critical zone>
In company news, International Business Machines (IBM) late Monday delivered a second-quarter beat as its hardware segment offset a moderation in the software unit and Red Hat, while the technology giant pegged free cash flow for the year at the low end of its guidance range. IBM declined 5.3%, one of the steepest decliners on the Dow.
The PEAD projected a Bearish outlook for $IBM after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 83.33%.
Dumping hard today
Presume some earnings fud
Or perhaps it's the apocalypse come early
Either way it's a buy
Probs a good 25% up before ded again
GRI 2022
I frankly forgot IBM still exist. Last month it slightly broke the ATH from March and April 2013. Yes, it can take 9 years to get rid of your bags. So, trade carefully and have your stop losses or exit plan in place. It's been in this massive channel on monthly for 9 years. Perhaps time to breakout? Earnings sent the stock slightly lower, but I'll keep my eye on it.
From current Chan chart of IBM, we can tell, there is possible uptrend spike towards $145 -- previous high. Do leave comment if you have any idea about it's earning or financial information update. I am just reading from chart structure at this time. Overall, IBM is in a bull trend (short-mid-long term ) . If this time, it stand above $145, expecting next (2nd) ...
Rare triangle pattern on a weekly chart. I jumped the gun a little today and got in on the long side. Based on the market bottoming out today I'm bullish on this break. Will keep a close stop at 128 and target 180.
IBM has been in an ascending channel formation for a while now. We've had two touches and I believe there is one more then a correction to the bottom support line before the decision of whether this channel will break to the upside or whether we will break to the downside. Thats years away and we can revisit that then but for now it looks like IBM is about to...
As you can see, International Business Machines NYSE:IBM 💾 has been in a very long period of consolidation. Reasons why this big pennant is incredibly bullish beyond the chart.
1. IBM has everything to prove and the recent earnings beat gives support to this emerging idea of "there's no choice but to succeed".
2. It's been ugly in this bear market, but IBM...
This pattern is neutral until a trendline is broken with a trend in that direction.
Yesterday's candle is a spinning top which is a candle of indecision.
IBM had a fairly expansive trading range yesterday, but the spinning top is a candle of indecision. The Harami candle would need confirmation in order to be truly bearish , by another down candle forming today...
