Momentum Surge - IBM
IBM is showing good consolidation and may be setting up for a breakout. Keep in mind IBM can be a slow mover so it may not break out fast. Tight stops are required as always based on my strategy.
1. Not up 3 days in a row
2. Linear previous momentum leg
3. Stock is in early phases of an uptrend i.e. not extended
4. Has not had a significant breakout or breakdown during the consolidation phase
5. Consolidation is nice and clean with narrow range days, lower volume , and can even be pointing down.
Buy = $134.86
Stop = $133.29
Shares = 40
1. Not up 3 days in a row
2. Linear previous momentum leg
3. Stock is in early phases of an uptrend i.e. not extended
4. Has not had a significant breakout or breakdown during the consolidation phase
5. Consolidation is nice and clean with narrow range days, lower volume , and can even be pointing down.
Buy = $134.86
Stop = $133.29
Shares = 40
