Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Saturday, March 10, 2012
IBM International Business Machines Big Blue Rising Wedge Negative Divergence
Nasty negative divergence showing for Big Blue so price should receive a spank down now. The folks buying the last few days, further helping fuel the Divvy Stock Bubble, are the bag holders. The longs should receive a second chance to jump ship, however, since the weekly chart has some momo behind it and should want to see another high in price after a move down, so the path shown by the black line in the right margin is a projection of down, then back up, then roll over. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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