IBM broke above a trend line from its June high and July pivot on the post-earnings surge, putting a near-term breakout in place that should be a great move for IBM near term. Resistance is the 50% retrace at 265.83, moving to 281.55 if IBM opens above it.

Tesla, we've got IBM, we've got Lamb Research, all moving after the bell, including Meta.

Man, what a blastoff here on IBM. Look at that push up after hours. Currently, we closed at 251. Now trading at $2649. But I do want to say this one was the little uh fishy. It definitely Well, you know what?

You know the saying where there's smoke, there's likely fire. Now, look at this. We have over the last uh and I'm going to expand this out for a reason. Look at this one candle right here at 310 this afternoon.

I know what happens generally going into earnings. Usually there's investors that are bullish, there's investors that are bearish. They want to trim positions, others want to stack up, but there really wasn't any trimming going on.

It was just up up and away and then blastoff with the earnings announcement. So, that is a little fishy right there. Looks almost like a little bit of news of that earnings was leaked beforehand, allowing some folks to jump on board and then really capitalize on some gains on the move up.

Now, where's price going to go for IBM? We ran straight into this 50% retrace. to remind you that 265.83 we got as high here as $27129 before pulling back. That's the power of these fib retraces.

That's the power too of isolating these key levels down before going into earnings. There's not a lot of in of time to react. And oftent times the most obvious resistance level is the one that is chosen as investors unload on the great potential um explosion up on the chart.

As long as price opens beneath that tomorrow, that's going to be the near-term resistance on the chart of IBM. If we open up above it, the near-term resistance will then flip to the 618 fib retrace at $28155.

Regardless of this situation, we're talking about a breakout at hand on the chart of IBM. This is the previous high back here on June of this year connected over to this pivot that occurred in July. string that tren trend line out.

And you can see clearly with today's price action, an even price hitting uh gas to the metal right there at 310 that I highlighted. As I said, a little fishy, but it did propel the price of the stock right up over this trend line, allowing this breakout to commence and push up much much higher on the chart. So, great move there for IBM in the near term.