nternational Business Machines Corp. (NYSE:IBM) is hammering into the upper end of a range at $130.00. This is a key level as the stock tries to break out. If IBM breaks out here, look for a move to $130.25, then $130.65. If IBM fails to break out of the $130.00 level, it may retrace back down to the lower range at $128.65. IBM has been a range bound stock not only on the intra day but also on the daily chart. Note the intra day range below on the chart.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
