Saturday, August 10, 2013

Technical analysis of IBM - Important support has been broken

IBM

Just a quick note on IBM.

We closed this week with a break below a important support line and we should see a relatively strong decline from here. The first target is near 160, but we could see a deeper decline towards 143 but at not point should we see a break below 138.18 if we do that this decline will be much larger and could go all the way down close to 71.

Have a nice weekend and trade safely for the next week

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