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  • Swing Trade Idea – (IBM) – July 02, 2020

    Jul 02, 2020 Swing Options Tips Comments Off on Swing Trade Idea – (IBM) – July 02, 2020

    Our bearish trade for Thursday, July 2nd is IBM (International Business Machines Corp). IBM is part of the Technology Sector (XLK). XLK has experienced a 5.87% gain in the last month and its 1M trend turned bullish on April 8th.

    IBM’s 1M and 6M trends turned bearish on June 22nd and has recently pulled back to provide a good short entry. With a technical score of 5 (out of 10), IBM is a neutral stock that will likely move lower. 

    As a stop loss, if IBM were to trade above $121.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $4.70.

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