DTT Buzz

IBM has recently been testing all time high resistance near 125.00. The previous all time high took place nearly 10 years ago, and was 125.11. Take a look at the 10 year chart below to view the previous high...

IBM printed a new all time high on May 8th, but I did not pay much attention to it considering it was simply an intraday pop, and the stock closed below 125.00. Now, IBM has managed to close above 125.00 for five consecutive trading sessions.

DaytradeTeam is bullish with regard to IBM. There are a several reasons, including the resistance break of 125.00 resulting in resistance turned support at the price level, consecutive closes in new all time high territory, solid uptrend support per the 6 month uptrend line, etc....

We have released a bullish position on the stock, and there is still plenty of time to participate in our trade suggestion. To get the details of the trade, call 866-232-9872 and request information about our Premium Service today!!

Regards,

Nick Fenton

Sr. Trade Analyst