ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
I last reviewed International Business Machines (IBM) on July 1st of this year. At the time, the stock printed a near picture-perfect bottoming pattern (see chart below) that over-extended the stock. The bottom play lasted about two weeks before the stock’s 2013 downtrend regained control. The stock then flipped 180 degrees as it made a … Read more
This chart review includes a follow-up from last week’s chart review of International Business Machines (IBM) and SolarCity (SCTY). International Business Machines (IBM) The potential hammer bottom I identified last week got follow-through, but it was too messy to trade. It took two days for IBM to close at a higher price than the high … Read more