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


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: