Tinkering in IBM
Something interests me on both the weekly and daily charts of IBM (IBM), and it has me investigating the long side of this stock.
IBM ׂׂׂׂׂׂׂ(IBM) -- Weekly Source: Dynamic Trader View Chart » View in New Window »First, on the weekly chart, the swing from the April 3, 2012 high into the July 12, 2012 low brought the stock down by $28.84 -- very similar to a $28.50 swing from the July 2011 high to the August 2011 low. This is what I like to call symmetry -- that is, similarity or equality when comparing swings in the same direction. Other technical analysts will call that projection a "measured move."...488 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
