Refer to my previous IBM analysis of 2nd Feb. I predicted through Elliott wave count that this share is near to place a bottom and soon an impulsive rally start to begin to 200 and even much higher in longer term. The bottom is placed slightly low the 61% of Fibonacci also confirming that blue wave II has completed 116.90 and now we are in blue wave III of Red wave III which will go to its ideal target 300 or even higher in next coming month. Long term trader can enter into trades targeting 172 and 200 level.
muhiuddin
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I think 116.90 low on 2/11/16 in not the bottom. The moves from that low is all corrective. From that low, there is an ABC to 153.52(4/4/16) and then an expanding triangle to 142.5(6/27/16) and it is in the last ABC move up. Once the last move is complete, the downward correction should continue. It would be nice to see an update of your analysis above. I can not wait to own IBM one day.
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