Shares of International Business Machines (IBM) are looking ripe for a major breakout. The stock is consolidating inside a beautiful bullish wedge pattern.
Any price move above $125.00 on a closing basis should set off a move to as high as $157.00. This IBM stock chart breakout watch is a classic setup but investors must be patient for the break above the key level. Jumping the gun could get nasty if the markets begin any sort of correction. While that seems unlikely in these Federal Reserve induced rally times, it is always a possibility.
IBM Stock Chart Breakout shown below.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.