IBM continues to consolidate after dropping down the A wave. If enough buying power comes in this should begin the B wave. Look for a target of around $145. Consider buying options 2 Fridays out once this is confirmed.
Look for the B wave completion in the next few days. If this happens it would be good for a short down to $131. I would grab an option 2 Fridays out once this is confirmed.
General Mills has recently gained support after retracing to key fib levels. Moving sideways and starting to trend up is giving us a buy signal. GIS earnings are on 6/28 - be careful holding through earnings.
PG recently bounced off key fib levels to continue up the channel. Earnings will be reported on 7/28 which gives us a good size window to jump in and let this ride up.
Reasons:
• Bounced off key fib level
• Continues to follow an upwards channel
• Earnings within 6 weeks
Comment below and let me know your thoughts.
Long call for Starbucks after bouncing off critical support levels around $98. After moving up the past few days I am looking at $104.99 for the next target.
