After an earnings sell-off on Wednesday evening, Big Blue is poised to break lower from the daily chart rising wedge highlighted below.
The stock has been a safe haven of late, in addition to other mega caps such as JNJ MCD.
I expect that mega cap safe haven trade to unwind a bit here, and am considering chasing Big Blue down on the short side tomorrow. I would target a check-back to $185.
On the long side, I like Zillow (Z) on strength, as the stock has been basing remarkably well on its weekly timeframe.
Drop me your top tickers overnight.
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Could MO be considered potentially as a short as well?
Stop over Wed’s highs