Last week's Elite Zone winner struggles with resistance
$IBM was one of our winners, in the Elite Zone last week with an impressive breakout of a descending trading channel we've been monitoring. Now, when it is at the top of my buying zone, the question is, can $IBM make it above 165$ to continue to my secondary target level - The 200 SMA line?
It all started with a bullish AB=CD pattern on the weekly 61.8 Fib level.. so the potential is there. Will we see another retracement lower, before the next rally?
Bullish longer term, cautious short term
It all started with a bullish AB=CD pattern on the weekly 61.8 Fib level.. so the potential is there. Will we see another retracement lower, before the next rally?
Bullish longer term, cautious short term