The last time I talked about IBM was back on Dec 14th, so I wanted to give some quick comments of what I am currently seeing. At that time I suggested that the price could hit 150 or possibly even 140. So far IBM hit the 150 level in late January and bounced. I am currently seeing multiple indicators displaying positive divergences which would suggest that 150 was the bottom. Also on the weekly chart the MACD has given a buy signal.
I wanted to build a larger position around 140 but it doesn't look like I am going to get that price. I have continued adding a couple shares here and there over the last several months and would like to eventually hold a position around $3000-$4000. I am long with 11 shares, which is worth around $1800. I will be looking to add to that position on a retest of the 50 ma.