IBM Retracement Setup After Earnings and Revenue Beats

International Business Machines Corporation (IBM) stock looks like a good setup after the stock has done a 50% Fibonacci retracement.

On Tuesday, October 17, 2017, IBM reported EPS of $3.30 versus the consensus estimate of $3.28. Revenue also beat coming in at $19.15 billion versus the estimate of $18.63 billion.
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Ishares MSCI USA Quality Factor ETF and Rising Large Players Volume

The Ishares MSCI USA Quality Factor ETF QUAL looks like an excellent setup with a pocket pivot signal and the Effective Volume showing large players volume rising.

The investment seeks to track the investment results of the MSCI USA Sector Neutral Quality Index composed of U.S. large- and mid-capitalization stocks with quality characteristics as identified through certain fundamental metrics.

The top 10 holdings in the Ishares MSCI USA Quality Factor ETF as of July 13, 2017, are:

Altria Group Inc = 7.29%
Johnson & Johnson = 5.03%
Microsoft Corp = 3.76%
Apple Inc = 3.48%
3M Co = 3.29%
Mastercard Inc = 2.53%
Starbucks Corp = 2.48%
Charles Schwab Corp = 2.36%
International Business Machines Corp = 2.36%
Exxon Mobil Corp = 2.28%

Ishares MSCI USA Quality Factor ETF Chart

QUAL has a good setup pattern. Large players volume is surging higher and the Twiggs Money Flow shows that QUAL is under accumulation.

Prices have been consolidating lately and the volatility has been reduced forming a momentum squeeze.

There is a resistance zone just above the current price starting at 75.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 74.83, a stop order could be placed below this zone.

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