IBM trade ideas
Possible completion of Wave 2, setup for Wave 3 LONGIt seems we may have a confirmation of the end of a Wave 2, ready to trade a Wave 3 LONG.
TDI in this instance shows almost oversold position and would correspond directly with the price action and structure.
The Mustard, Ketchup, Mayo and Blueberry EMAs have also all crossed (note Crossing of Ketchup and Blueberry EMAs) suggesting an imminent reversal to go LONG.
Entry on this stock would be on breakout of Structure as shown by the trendline breakout point (in RED).
Caution always advised.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
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Buy IMB between $158 and $155.5 for dead cat bounce.Buy IMB between $158 and $155.5 for dead cat bounce. It will have a dead cat bounce soon.
IBM is backtesting the downtrend lineYup, IBM had 20 YoY consecutive quarter declines. Fundamental are bad at this time. But stock usually reflects the future. So, let's look at the chart...
IBM (3) Retracement levelsIBM (1h) retraced 0.382 ($ 169.58), calculated from "Minor"-wave 3! The other levels are the measured results from the "Minute"-wave a of this ZigZag correction pattern the stock is in. Minimum retracement for a wave "c" is 0.618 of wave "a" (identical with 0.382) or 1.000 ($ 166.10) or 1.618 ($ 160.00), although reaching the last level seems to be unrealistic. Wait till the price has touched the supprt-line at 1.000! (Nice opp. for conservative investors...)
Is this a Top?Trading below the neckline is bearish! The Chart only brightens with Prices > the right shoulder.
Former view:
IBM oversold and at the trend linepicked up some IBM calls 2 weeks out for a potential bounce based on trendline support and oversold rsi.
IBM (Part 2) Still walking down the line..IBM still above support line. Take it as a stopwatch: If IBM hits the 0.382, it's probably time to go long for the whole market!
IBM (Part 1) near 0.382After breaking out of the old trading channel a few days ago, IBM is "walking down the line". This wave ("Minor" - wave 4) has a normal ZigZag- pattern and IBM is in impuls c, the final leg of the correction.
Waves 4 normally correct 0.382 ( $ 170). In a few days and on this level or just below ($ 166), there could be a nice opportunity to go long! (Depending, in which direction the general market wants to go.)
IBM - Weekly Swing Trade1. IBM has moved up nicely after bottom in 1Q 2016. Prices exceeded the weekly 200sma for the first time in 18mths and have reached a Measured Move target around $184.
2. Prices are due for a 10bar/2 leg retracement or consolidation before continuing upward to test $190-$200.
3. Continue to watch the pullback and look for an entry near the Breakout level of $170, which also coincides with the 200sma support.
4. I will update with the options play as we get closer to an entry.
5. Prices have clean trend, respect for 34EMA and an RSI that peaked cleaning with price convergence. Good looking potential setup.
IBM bearish sentimentIBM is moving lower than 20MA and 50MA to test 200MA support at 170. We could see the quasi-triangle in the chart. If the trend further breaks down support line, it will likely get bearish.
IBM, story of a changing trend?With the down trend line broken, the EMA (50) crossing above EMA (200) and the clearing of 2 major resistance levels at 173$ and 176$ respectively, the conditions are very much in favor of more upside gains for IBM. Buying here @ 177.24$ with a stop 175.5$ first target 182.80$ if cleared on the medium run we could reach 191$ even 195$.
Catching some IBMIBM hits support on crossing necklines. Add to long term position with ~$1.5 risk per share.
Good risk reward, tight stop.
IBM Monthly Chart Pattern, Projection target profit reached!Dear Traders,
As much as technical analysis is concerned, many sources have repeatedly comment umpteen times that the simpler the chart the better, and i agree with that absolutely.
The monthly chart is in fact easy to spot how IBM prices move since 1993 and forming an ascending triangle!
The target project is actually realized at 205.5, i only have enough capital to short 10 shares at 205.5!
