INT'L BUSINESS MACHINES
(IBM-NYSE):
Technical Viewpoint: From a low
of $120.50 on Apr 30, 2008 prices
rallied, reaching a
high of $129.99
on May 29, 2008. A
decline saw prices pull back, reaching a
low of
$116.50 on Jul 1, 2008.
Another rally saw prices penetrate
resistance, closing 7/18/08
at $129.89. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jul 10, 2008 when the solid line crossed the dotted line to the upside.
Support: Remains at $120.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jul 9, 2008. A P&F upside
reversal takes place at $127.00. Summary: Technical indicators have turned bullish. BUY! INT'L BUSINESS MACHINES
(IBM-NYSE) @ $130.13 Stop: Use a protective stop of $127.38.
INT'L BUSINESS MACHINES is currently trading @ $129.89 plus $3.37 on Jul 18, 2008. Price Objective:
$142.50. Risk/Reward: $2.75 VS. $12.37. Today's Risk Reward Ratio: 5:1
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