International Business Machines Corp. (NYSE: IBM)

International Business Machines Corporation provides information technology (IT) products and services worldwide. The company was formerly known as Computing-Tabulating-Recording Co. and changed its name to International Business Machines Corporation in 1924. International Business Machines Corporation was founded in 1910 and is headquartered in Armonk, New York.
Take a look at the 1-year chart of IBM (NYSE: IBM) with the added notations:

IBM had been trending sideways up until the stock’s large drop in October. The stock then tried to hold the $160 support (green), but the $165 resistance (red) won the day and IBM took another leg lower in December. Over the last 1-2 months the stock has been holding a 52-week low support at $150. A break of that level would most likely lead to much lower prices for IBM.

The Tale of the Tape: IBM has a key level of support at $150. A trader could enter a long position at $150 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.
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