International Business Machines Nearning Support After Break Down

A week ago I alerted to the International Business Machines Corp. IBM break down on the daily chart. The stock had just broken the sloping trend line to the downside and it signaled a move lower into the first support. Note the chart below. IBM continues to be one of the weaker stocks and will continue to be so until it hits that first level at $123.00. It should find some support in that range. Should that range break, the next level will be $121.50. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com see charts:http://www.inthemoneystocks.com/userfiles/image/IBM08_26_10.jpg