IBM - Longer Term Short Trade
This stock was brought to my attention by one of my followers requesting my opinion.
WEEKLY Linear chart...
This looks juicy ..... I believe this is poised for a substantial drop. Capable of producing a return over 50%.
Longer term put option or a LEAP may be in order here.
I believe we have just completed the "B" wave on a long term Elliot Wave sequence. The target price will bring us back to the wave 4 termination in the mid $60 range.
A price move over the descending white channel line into the $160 range should be used as a stop. Good risk-reward at this point!
WEEKLY Linear chart...
This looks juicy ..... I believe this is poised for a substantial drop. Capable of producing a return over 50%.
Longer term put option or a LEAP may be in order here.
I believe we have just completed the "B" wave on a long term Elliot Wave sequence. The target price will bring us back to the wave 4 termination in the mid $60 range.
A price move over the descending white channel line into the $160 range should be used as a stop. Good risk-reward at this point!