IBM Message Board - Msg: 4771167

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Technology Stocks : IBM

IBM 310.49

+0.4%

Dec 9 3:59 PM EST

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To: Chris who wrote (3227)	6/8/1998 2:17:00 PM
From: Ben Antanaitis	Read Replies (2) of 8218

Chris, The IBM chart I posted on 6/4 is still in effect with no changes. It shows IBM having gone up ~30% since March, and then retracing 12% or 40% of the upside leg. This appears to be a normal run up retracement. In fact, it currently appears that IBM has bounced off of support point S1. Trades above $121 5/8, on volume, would indicate a resumption of an upside movement (column of 'X's) and resistance may be seen at ~$131 and ~$145. The 6/5 Max-Pain options analysis for IBM June'98 open interest has the Max-Pain point at $120 for the 19th..... Ben A. ez-pnf.com PS Of course this a chart analysis not investment advice.

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