International Business Machines Corp. (NYSE:IBM) is trading lower today at $197.22, -2.38 (-1.19%). The stock has dropped sharply since it reported earnings. While the price action is negative, IBM has hit its first major support on the daily chart. This level is at $196.80 and can be seen on the chart below. A bounce from this level in the short term is likely.
Day Trader Tax Webinar with Buddy Hartman and DTRS
Important Trader Tax information from Buddy Hartmann and DayTradingRadio.com.
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Trade Lesson: Understanding Bottoming And Topping Tails
Most traders do not put all the pieces of the puzzle together when learning and using technical analysis. Let's talk about topping and bottoming tails. Simply put, a bottoming tail is a bullish signal and a topping tail is bearish. A bottoming tail MUST occur at the lows of a chart. This means that no point on the chart in recent history can be lower.
When looking at stocks, one might wonder where to buy or sell. As stocks enter this up cycle, it is wise to begin looking at stocks that may be setting up for a drop in the second half of the year. To do this, we must look at the charts and understand exactly where a stock might hit a pivot long term high. To do this, look at the weekly and monthly charts.
Euro-zone Domino Effect In Motion: Italy Could Be Next
Oxen Group Nightly - July 7, 2011 - Stock Market Recap
Google Inc. (NASDAQ:GOOG) has soared for the last six days, jumping from $473.00 to a high today of $534.73. This move of over $60.00 has been epic but many traders are wondering if it will continue. Clear chart analysis shows that in the short term Google is hitting resistance. This resistance level is at the $533.00 level and can be seen in the chart below.