Technical Analysis of Financial Markets

Saturday, March 01, 2008

International Business Machines Corp. (IBM)

Between July 2006 and October 2007, IBM's stock price gained 66% in value; a sell-off during November 2007 saw price action break the trendline of the rally. Since then, price action has remained beneath the underside of the broken trendline where support has become resistance. An entry into a short position with a stop-loss on close above previous highs at $117.50 may serve as a low-risk trade.

No comments: