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Must-See Charts: 5 Breakout Trades From the Tech Sector

International Business Machines

There really hasn't been a good time to buy shares of IT giant International Business Machines (IBM - Get Report) in the last 12 months. While the broad market was rallying hard since early 2013, IBM was busy selling off 9%. That's some major underperformance during a time when most tech names were working pretty well for your portfolio. But dust off your "buy" button -- it looks like IBM's share price atrophy is coming to an end.

>>3 Big Stocks Getting Big Attention

It's not just the fact that IBM sold off all last year that's significant this $200 billion tech name sold off in a well-defined downtrend. Every time shares pressed up against trendline resistance in 2013, it was a great time to be a seller. Now, though, 2014's breakout above trendline resistance is a solid buy signal.

IBM currently has a meaningful support level at $190. If you decide to start building a position in IBM here, that $190 level is a smart place to stick a protective stop below. The price action in IBM hasn't been the most orderly, but it's orderly enough to make it tradable in April.

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SYM TRADE IT LAST %CHG
SAPE $24.98 0.00%
IBM $165.09 0.36%
NVDA $20.42 0.10%
MSI $57.51 -0.16%
PANW $173.90 -1.27%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

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