IBM crossroads

6月26日

Simple setup for the future of IBM a little bit bullish biased with the potential destination of the last blue rectangle, but first some signs of another inflection maybe after a descent must occur, preferably at any of the elements in the snapshot which could become support or resistance regardless of the path the market takes. Probably needs good earnings report for such a scenario, although there could also be a last chance setup possible somewhere at the bottom white arc even if the Earnings disappoint or don't impress.

In a more bearish scenario for the short sellers a rebound from the slim white rectangle or break and retest of the bottom white curve could trigger the crossroad between the envisioned more bullish toned scenario and other potentials.

7月5日

ノート

A curious case of resistance and support between the green marked top level and the slim white rectangle zone. On of them is bound to be broken, if not both, and I am leaning towards a descent in lower ground as I don't know what kind of buying appetite and why could/should manifest before the awaited earnings report. Still, I like to watch these levels and elements and see what the price action dictates for potential future mood. The situation is tight right now, looking for a breakout.

7月9日

ノート

Second rebound in a row at the green marked price level. This could make the bears gain momentum regardless of the prospect of all this being a triangle shaped formation for the bullish case. A potential break on the downside of the slim white plank could do enough for the bears to push this lower before earnings report.

7月11日

ノート

The white slim rectangle had another idea regarding bearish mood. Second candlestick shadow on the low for confirmation of support near this plank rectangle and signs of potential break of the green level. Close level could be very important at the end of the day as this could still rest between the two support/resistance levels.

7月26日

ノート

196 reached much faster than the rectangles would have suggested after the break and retest of the bottom edge of the white zone with the help of good earnings report. There could still be the case for this project for a correction and a reentry at the second blue rectangle with an attempt to go for the big one, but we might not end in this scenario if no signs of weakness creep in.

7月31日

ノート

Resistance met at the top edge of the bigger white just like the resistance of the watched to boost this random generated elements nen idea. While the resistance to boost this funk might hold, the resistance met by the price in this zone suggested by the candlesticks formation might not. IBM could eventually go for 200. One way or another.

8月6日

ノート

I don't know what's happening in the markets, if cooler heads prevailed, but we have a second rebound from the lower edge of the big white which proved to be very interestingly developed. Don't know what the future holds in the current climate. I would be surprised if we end up visiting the big blue, but my hunch is we might see at least one more interesting inflection/rebound and any of the shapes. Hit on the purple dot doesn't seem likely but anything is expected.

8月12日

ノート

I consider this setup in the corner of the white a decent candidate for a potential reversal. Trying my luck with a short here.