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IBM Master Swing Short Level

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April 26, 2012 – Comments (0) | RELATED TICKERS: IBM

International Business Machines Corp. (NYSE:IBM) continues to rally higher today. The stock is trading at $204.81, +1.24 (+0.61%). On Monday, IBM made a low at $196.80. This big move higher may continue into early next week but will soon yield a great shorting opportunity. The short level on IBM is $207.40. This is a key gap fill point and major resistance on the chart. The next leg down should begin once this price point is achieved.

Gareth Soloway
InTheMoneyStocks.com

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