Have been playing w/ IBM for a while. You can 'search' IBM on the page or this is a pretty good link to show some interesting vibrations/waves w/in IBM. Frankly, I had forgotten about some of the work I had done on IBM.
Anyway, IF long IBM THEN look at taking some profit per the target below or tighten the stop. Or, SHORT IBM and get out once price goes above 286.50. Remember, folks, it's all probability sometimes they work and sometimes they don't.
Nice comeback run for IBM. That being said, an upper target has appeared and it's one we should take seriously. IF long THEN think of taking some profit or tightening the stop as this level approaches. Don't short until we have a 'monthly' Signal Reversal Candle (SRC). We have some time for that ... However, this level should provide some stiff resistance for higher on IBM, if not stop it in its tracks. OBTW, next target is in the low 400's. We'll take a peak at that but first this pattern needs to fail before we discuss. Below is the BUY pattern present at the lows of this swing. What a run.
