August 29th, 2014
Published Daily

IBM – IBM Corp. (Last:193.50)

by Rick Ackerman on November 20, 2012 4:18 am GMT

Big Blue has gotten a new lease on life, what with seasonality ratcheted up to the max just as oversold indicators were screaming for mercy. Now the stock is an odds-on bet to hit a minimum 192.38 once it has dispatched the 190.60 midpoint pivot of the pattern shown. The rally would have to vault the November 13 high at  190.88 to refresh the impulsiveness of the intraday charts, but you can use the 190.60 midpoint as a ’synthetic external’ to create a usable camo entry price.  ______ UPDATE (November 25, 11:23 p.m. EST):  The stock blasted past 192.38 on Friday, headed for an eventual test of supply near 196 that was deposited earlier this month.

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