Is IBM Setting for a Break Out?
Published on Tuesday, 12 June 2012 08:44 Written by TradersHuddle Wire
New York, June 12th (TradersHuddle.com) - International Business Machines Corp. (NYSE:IBM) closed the trading day at $192.51, near its 50 day and 200 day moving averages set at $200.49 and $189.79 respectively. IBM's price action placed the stock above the 200 day moving average but below its 50 day moving average, a setup that signals a possible break out.
International Business Machines Corporation (NYSE:IBM) provides computer solutions through the use of advanced information technology. The Company's solutions include technologies, systems, products, services, software, and financing. IBM offers its products globally through different distribution channels. Its Global Technology Services segment offers IT infrastructure and business process services. The company's Global Business Services segment provides professional services and application outsourcing services, including consulting and systems integration, and application management. IBM was founded in 1910 and is based in Armonk, NY.
IBM seems to be setting up for a tight range between the 200 day moving average as support and the 50 day moving average serving as resistance.
A tiered approach, appears to be the best strategy to maximize possible movements in the stock, as traders could establish a small position in IBM and wait for the stock to break out above its 50 day moving average at $200.49. Then they could add to the position as momentum builds with the breakout. On the flip side, if support being referenced at the 200 day moving average set at $189.79 breaks, it could signal further downside pressure for IBM.
- Hertz Partners With 'Discover The World Marketing' To Grow Outbound Car Rentals From Saudi, Bahrain
- Hertz Global Sale Returns With Up To 33% Off Rentals
- Hertz Expands Firefly Brand Into US
- Hertz Announces New Global Partnership With Relais & Chateaux
- Hertz Re-Designs And Reinvents On-Site Car Rental Experience
- Hertz Introduces BMWs To New Zealand Fleet
- The No. 22 Hertz Ford Mustang and Driver Brad Keselowski Dominate Zippo 200 at Watkins Glen International
- Hertz Expands Mobile Wi-Fi Service In Europe
- Penske's No. 22 Hertz Ford Mustang Debuts At Road Course
- Hertz Extends Adrenaline Collection To Australia With Toyota 86
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines