International Business Machines (IBM) - July 21, 2008

Harry Aloof · 07-21-2008, 03:52 PM

From Wall Street Trader's Column

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 line "A", closing yesterday 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 downside 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

07-21-2008, 03:52 PM	#1
Harry Aloof contributing website Join Date: Oct 2006 Posts: 154	International Business Machines (IBM) - July 21, 2008 From Wall Street Trader's Column 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 line "A", closing yesterday 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 downside 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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