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Thursday, 01/18/2018 2:09:53 PM

Thursday, January 18, 2018 2:09:53 PM

Post# of 1022
Do Charts Trump Earnings? See What The $IBM Chart Is Saying

International Business Machines Corp. (NYSE:IBM) is set to report earnings after the close today. Expectations are high, but then again so is the stock price. Just in the last three weeks, International Business Machines has rallied from $150 to $171. For old snail IBM, this is a huge move. In addition, International Business Machines hammered into a major gap fill on the stock chart today. The price point of the gap fill was $170.00. This signals that the stock may pull back on earnings. If it does, look for a technical retrace to $164.00. Today will be a good example of whether or not stock charts tell investors the reaction on earnings ahead of time.




Gareth Soloway
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