« AMD Breaks Support | Main | Still Betting on the Consumer? »
June 06, 2006
As IBM Goes….
As IBM goes, so goes the overall market. This stock was stuck in a range from March to mid May and then broke support in May. The stock consolidated for a few weeks and moved lower the last two days. Broken support turns into resistance at 81.3 and it would take a move back above this level to revive the bulls. As long as 81.3 holds, I expect lower prices in this tech bellwether.
Posted by Arthur B. Hill at June 6, 2006 03:01 PM