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Strategies & Market Trends : Classic TA Workplace
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To: Moominoid who wrote (31595)2/20/2002 9:11:51 AM
From: AllansAlias  Read Replies (2) of 209892
 
Looking at a weekly chartm IBM is trading under the 1993 trendline. While IBM has a reputation of being one of the horses, like so many other blue chips, it has gone sideways since the fall of 1999.

Anyway, finally, we are seeing a second test of the IBM 1993 trendline. The last test was the Sep lows, but of course the trendline continues to rise. IBM is trading under the line as of yesterday. For me, we'll have to see where they close it Friday, as I put more faith in weekly closes for these long-lived lines.
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