International Business Machines Corp. (NYSE:IBM)
A: Long-term uptrend.
B: Support at $140.
C: Short-term support at $160.
D: Short-term uptrend.
IBM is no longer a buy after the break of the short-term uptrend (D). Currently, IBM is testing short-term support (C) and the long-term uptrend (A) around the $160 level. If this level is broken, sell with an expectation of a move to the long-term support (B) at $140. After the $140 level is broken, expect a move to $80.