$IBM Nears Chart Support For Bounce
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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.
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This article was written by Anna B for on .
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