The last six times that IBM broke below its 200-day simple moving average it almost immediately reversed course and pushed back to the upside. This has been a consistent event since the crash in late 2008, and we’re not betting against it continuing this time. Even with significant volume and a big earnings crash, there’s enough here to warrant a cautiously bullish trade. We’re going to let things settle out over the weekend and see what Monday brings us, at which point it may be time to put on a trade!  P.S. - Earn BIG with Earnings Alerts for only $99/year. This limited time Special Offer expires Thursday October 18th @ 11:59pm PST—NO EXCEPTIONS!!

The last six times that IBM broke below its 200-day simple moving average it almost immediately reversed course and pushed back to the upside. This has been a consistent event since the crash in late 2008, and we’re not betting against it continuing this time. Even with significant volume and a big earnings crash, there’s enough here to warrant a cautiously bullish trade. We’re going to let things settle out over the weekend and see what Monday brings us, at which point it may be time to put on a trade! 

P.S. - Earn BIG with Earnings Alerts for only $99/year. This limited time Special Offer expires Thursday October 18th @ 11:59pm PST—NO EXCEPTIONS!!

Tags: ibm sma simple moving average technical analysis earnings