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$IBM Nears Chart Support For Bounce

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of International Business Machines Corp. (NYSE:IBM) have been slowly falling over the last two months, after making new multi-year highs at $182.79. The stock is quickly approaching $170.00 which has two major support levels. This means the stock will likely see a solid bounce. Look for a quick bounce back to $179.00, maybe on earnings. This is a quick trade, known as a swing trade. Please note if $170.00 is taken out to the downside, the trade is null and void and investors should exit. This defined exit gives intrigued investors a small risk of a Dollar or so versus a $9.00 potential profit. Once in the money by $3.00, use a trailing stop to protect profits.

View my trades and Verified performance right now, click here. Simply join Verified Investing for free and anytime I buy a stock/ETF, you will get an email. You can then opt-into the trade getting my exact entry price, target and stop. Those who take my trades, only reward me (a Verified Trader) with a few Dollars IF they get big winning trade information.

Stock chart buy on shares of International Business Machines


This article was written by Anna B for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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