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[/et_pb_code][et_pb_text _builder_version=”4.8.1″ _module_preset=”default”]All right, folks that we take a look at IBM International Business machine. So IBM reported earnings last week, you can see we sold off pretty hard, due to lower than expected revenue that analysts had forecasted earnings per share actually beat 252 versus 250. But revenue was slightly lower than what the street had hoped for. So looking at the chart, and what’s next, we’re looking at a couple of areas of price structure that we have identified where we would consider the buyers of IBM, if the levels if we get confirmation at these levels. So first level is going to come in right here at the 123 to 124 area and then down to around the 115 area. If we flip over to the daily here, right here on the right, you’ll see that that is going to come in if we take a fib retracement from this swing low here to this swing high up here. We that level is going to take us right down into around the 786 retracement level. So what we could or should expect or what to expect at least is let the market come down. We’ll see some slowing momentum down here at these levels. We’ll have a lot of confirmation not only trading into the 76, but also the support structure. Additionally, we’re going to have some nice seasonality on our side where we’re having a favorable bullish trade for about for about 20 calendar days been profitable 81% of the time so you can see going back to 95 Here we’ve got a lot of green here, just a handful of red bars coming in within the last five years or so. But we think if we stretched down to this level, we could be short term oversold and we’ll look for new buying opportunities in IBM[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
