IBM: Bouncing Back Upwards
Inna Rosputnia | Dec 05, 2017 02:47AM ET
In October, IBM (NYSE:IBM) reported better than expected earnings and many buyers stepped in to buy the major gap up that ensued. That gap has since been filled and IBM is bouncing back upwards. We could say that the second mouse is getting the cheese here as the first buyers after earnings are still positioned at higher prices.The Trade in IBM is considered to be live above the Friday high of 155.02. The suggested stop will be 149.25. The suggested target is the gap fill at 170. We are risking just over 5 dollars to make 15 or a risk reward ratio of roughly 1:3
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