IBM pattern failure …

11/2/2018 – ouch.

The area labeled ‘FAILURE OF PATTERN BELOW’ is one of those levels that ‘should’ have acted as extremely nice support for IBM. Guess the operative word is ‘should’ w/ regard to that last sentence.  Take a look at that candle … boom. That folks, is what a pattern failure looks like.

so, if you look below, it’s now setting up for a support zone (dare I say BUY zone) in/around 88-89.  I’ll do some more work on it over the weekend but the BUY PATTERN mentioned w/ @seeitmarket went the way of the buffalo.

Bart

Is IBM Stock Heading Into The Buy Zone Again?

certainly appears to be setting up for a nice one …

Bart

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets. View all posts by BART