IBM Trades Down To Major Support Level

Last night, leading tech stock International Business Machines Corp.(NYSE:IBM) reported earnings. The market reaction to the earnings report has been negative as IBM is trading lower by $5.76 to $149.00 a share. It should be noted that IBM stock traded down to the daily chart 200-day moving average and the stock has bounce off of that level intra-day. Should IBM trade below that level today the next major support levels will be around the $146.59 level.

 

 

 

Nick Santiago

www.InTheMoneyStocks.com

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