“IBM's 25% drop on a 5% miss is an overreaction — technical support at 215-218 sets up a retrace to 240-244.”
Why he says it — point by point
FAVORABLE & AGAINST · BOTH KEPTWhy
this 215 to 218 level of technical support as a potential bounce level
retrace to this pivot low around 240 to 244
I do think it was a little bit of an overreaction on IBM
The structured call
The receipt
Publish-day price $$211.20 · the claim is anchored to the moment it was said.