Today we’ll analyze the stock IBM (IBM) for online market trading,
Technical indicators to notice in IBM (IBM)
1- Last bullish trend was from 123.62$ (5/21/2008) to 129.71$ (5/29/2008) a 6.09$ move
2- The current bearish trend started from 129.71$ at 5/29/2008 and is currently trading at 125.02$.

3- IBM current support level is at 123.62 which is the 100.00% fibonacci retracement of the last 6.09$ move.
4- IBM current resistance level is at 125.95 which is the 61.80% fibonacci retracement of the last 6.09$ move.
5- According to ADX, the trend is currently bearish,which is becoming weaker.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
6- Bearish Divergance in MACD.
IBM (IBM) Short term chart patterns :

7- The Stock was supported by a support line, identified by two points: 123.62 and 114.1 that was broken down at 124.94 transforming into a resistance line.
IBM (IBM) Mid term chart patterns :

8- The Stock was resisted by a resistance line, identified by two points: 110.77 and 118.24 that was broken up at 107.41 transforming into a supporting line.
IBM (IBM) Long term chart patterns :

9- The Stock was resisted by a resistance line, identified by two points: 110.77 and 118.24 that was broken up at 107.41 transforming into a supporting line.

Conclusion:
IBM (IBM) was trading in a bearish wave, which is becoming weaker .
Technical indicators and chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 125.95, 126.13, 126.67, 126.81, 127.37, 127.38, 127.92, 128.27, 128.63, 129.71,.
Support Levels: 123.62, 121.96, 119.86, 117.21, 107.74, 104.27, 104.26, 104.25, 96.49, 96.18, 91.78, 86.58, 83.50, 83.40, 83.30, 83.20, 83.10, 83.00, 80.99, 75.47, 75.42, 75.37, 75.33, 75.32, 74.95, 74.58, 74.09, 72.80,.