Investor corner: Short sell IBM

Trader6868

Junior member
43 0
IBM has got strong resistence at 211 with double top pattern. It is going down yesterday, but today is bulling very few.

Make a short limit at 200, cut loss at 215 and take profit at strong support 145 (fibonaci retracement 50%)

Bud
 

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Vicorka

Active member
246 7
High bearish volume seen on Oct 17-19 will not let it go down so far, at least for a while... Quite similar to GOOG
 

Trader6868

Junior member
43 0
High bearish volume seen on Oct 17-19 will not let it go down so far, at least for a while... Quite similar to GOOG

After calculating S&P 500 cycle, I think that S&P could be down to 1,330....So, IBM will maybe plunge to 140-145

Bud
 

Vicorka

Active member
246 7
After calculating S&P 500 cycle, I think that S&P could be down to 1,330....So, IBM will maybe plunge to 140-145

Bud

The current down-trend is quite lazy. The Russell 2000 and NDX have dropped only 7-8% over past two months and the SPX and DJI dropped even less. It is difficult to expect some strong decline at such low volatility. With such mood it could take another 1-2 months to reach 1330 level. Unless something comes around... I think it is going to be quite difficult for IBM to break its July's support.
 

Trader6868

Junior member
43 0
The current down-trend is quite lazy. The Russell 2000 and NDX have dropped only 7-8% over past two months and the SPX and DJI dropped even less. It is difficult to expect some strong decline at such low volatility. With such mood it could take another 1-2 months to reach 1330 level. Unless something comes around... I think it is going to be quite difficult for IBM to break its July's support.

IBM is going down after the presidencial election...
 

Vicorka

Active member
246 7
IBM is going down after the presidencial election...

You were right, the market is down, yet it is not president's election but Europe.

IBM is still behind the S&P 500 in its decline. It is still far to the July's support. Lets see how the current panic selling develops and then we will go from there.
 

Trader6868

Junior member
43 0
You were right, the market is down, yet it is not president's election but Europe.

IBM is still behind the S&P 500 in its decline. It is still far to the July's support. Lets see how the current panic selling develops and then we will go from there.

I don't say the market is sharply down b/c of the election, just simply dropping after that

IBM if can't get supported at 182, it will drop down to 160. I also wait for what is going on at this point..Then, decide to buy cover or still hold short position. Beside, AAPL, XOM, KO & DIS is still in my short sell portfolio
 

Trader6868

Junior member
43 0
IBM has got strong resistence at 211 with double top pattern. It is going down yesterday, but today is bulling very few.

Make a short limit at 200, cut loss at 215 and take profit at strong support 145 (fibonaci retracement 50%)

Bud

Swing trader should buy to cover IBM and will continue short selling by next week after IBM temporarily bounce back. I think the market is still in BEAR trend
 
 
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