Reversals For These 2 Large Caps?
Big cap technology stocks hitting support zones.
Be ready for some sharp upside swing trade opportunities. Today I
just want to show you two charts that are quite representative of most big cap
techs right now. Those charts are IBM (hardware) and Microsoft
(software). They both are hitting key Fibonacci price support zones right here
after being in multi-month declines.
A possible way to play this if
we get a good reversal trigger would be to use the Nasdaq 100 Tracking Stock (QQQ)
or of course play the actual equities like IBM and Microsoft. Right now it feels
a little painful, but that’s where reversal trading opportunities are almost
always found.
Until next time!
Derrik