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TheStreet Open House

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) 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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