INT'L BUSINESS MACHINES (IBM-NYSE): Technical Viewpoint: From a low of $54.01 on Oct 10, 2002 prices rallied, reaching a high of $83.81 on Nov 4, 2002. A decline saw prices pull back, reaching a low of $76.70 on Nov 11, 2002. Another rally saw prices penetrate resistance, closing 11/20/02 at $81.61. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Oct 18, 2002 when the Histogram crossed the "0" line to the upside. Support: Remains at $78.50. Resistance: Is at $83.81. Point & Figure: Reversed to the upside on Nov 13, 2002. A P&F upside reversal takes place at $78.00. Summary: Technical indicators have turned bullish. BUY! INT'L BUSINESS MACHINES (IBM-NYSE) @ $81.75 Stop: Use a protective stop of $79.13. INT'L BUSINESS MACHINES is currently trading @ $81.61 plus $3.24 on Nov 20, 2002. Price Objective: $94.00. Risk/Reward: $2.63 VS. $12.25. Today's Risk Reward Ratio: 5:1