IBM - Looking to Add my Final Position

Written by MrStockFox. Posted in Trade Ideas

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.

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