INT'L BUSINESS MACHINES
(IBM-NYSE):
Technical Viewpoint: From a low
of $79.68 on Dec 29, 2008 prices
rallied, reaching a
high of $90.41
on Jan 6, 2009. A
decline saw prices pull back, reaching a
low of
$81.76 on Jan 20, 2009.
Another rally saw prices penetrate
resistance, closing 2/6/09
at $96.14. Technicals: MACD Index (MACD): A Buy Alert!
was given on Jan 26, 2009 when the solid line crossed the dotted line to the upside.
Support: Remains at $91.00. Resistance: Is at $99.99.
Point & Figure: Reversed to the upside on Feb 3, 2009. A P&F upside
reversal takes place at $94.00. Summary: Technical indicators have turned bullish. BUY! INT'L BUSINESS MACHINES
(IBM-NYSE) @ $97.13 Stop: Use a protective stop of $94.38.
INT'L BUSINESS MACHINES is currently trading @ $96.14 plus $3.73 on Feb 6, 2009. Price Objective:
$106.00. Risk/Reward: $2.75 VS. $8.87. Today's Risk Reward Ratio: 3:1
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