$IBM 3-Weeks Tight Pattern
Updated
Stodgy old 
IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well.
If you are a Wiiliam O’Neil follower, he states in his writings that a 3-weeks tight pattern can lead to some serious gains going forward. If you like you can read about it here:
investors.com/how-to-invest/investors-corner/smart-chart-reading-why-short-stroke-3-weeks-tight-give-a-profit-opportunity/
In any event, I have started a ½ half sized position here and have my stop just below the most recent low. Seems like a pretty good risk reward to me. But it’s all TBD.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking. For those wondering, the chart I am using is LevelUp right here on TV. You might want to research it, I find it helpful.
IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well.If you are a Wiiliam O’Neil follower, he states in his writings that a 3-weeks tight pattern can lead to some serious gains going forward. If you like you can read about it here:
investors.com/how-to-invest/investors-corner/smart-chart-reading-why-short-stroke-3-weeks-tight-give-a-profit-opportunity/
In any event, I have started a ½ half sized position here and have my stop just below the most recent low. Seems like a pretty good risk reward to me. But it’s all TBD.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking. For those wondering, the chart I am using is LevelUp right here on TV. You might want to research it, I find it helpful.
Note
Here is a 5 min chart not quite 25 minutes into the trading day. If this keeps going I may bring up to a full sized position. TBD.Note
IBM - I just brought this up to a full sized position. My stop will be just below yesterdays low of 181.93. Let's see how it plays out.Note
IBM - This 5 min. chart is just a thing of beauty... just nice and slow upward push.Note
IBM continues it's consolidation forming another flat base. I am still holding a 1/2 size position and I have my stop in place. So far so good even though I am a little under water. Should it break above the blue horizontal line I will bring it up to a full size position. All TBD.Note
IBM finally breaking above the blue short term resistance area. Adding 1/4 more size to 3/4 sizing.Note
IBM Continues it's slow march higher. As of yesterday I am in a full size position. I may add and bring up to 125% if we get a daily pullback. All TBD.Trade closed manually
I closed this position this morning for a small profit. I have to rethink continuing to ladder in. My cost basis kept creeping up along with the stock price. 
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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