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The Major Buy Level On $IBM According To The Chart

International Business Machines Corp. (NYSE:IBM) has had a tough go of it lately. First, the stock reported poor earnings. Next, Warren Buffet sold a large chunk of his shares. Both pieces of news hammered the stock which recently traded as high as $182 and now sit just above $150. Being a pure technical chart trader, I look for the major level to buy using technical analysis. Based on calculations and a stock chart double bottom, the buy level is $149.75. This will be a swing trade bounce play, with an expected upside bounce of approximately $10 to $160.00.

Stock chart buy level International Business Machines Corp.