The transcript is a technical analysis of two stocks, IBM and Intel, by an unnamed analyst. The analyst discusses the stocks' price trends, key levels, and potential areas of concern.
For IBM, the analyst identifies a key level of 135 and suggests that if the stock's price goes above this level, it would be a good sign. The analyst also mentions that the stock is at a pivotal moment and is bullish on IBM. The analyst expects a potential retracement, possibly a short-term bear market rally, and is concerned about the stock's price breaching the 135 line.
For Intel, the analyst discusses the stock's price trends and the importance of the 40 line. The analyst expects the stock to overcome this line and is concerned about the stock's price breaching it. The analyst also mentions the importance of consistent weekly closes above 40 as a good sign.
The analyst also discusses the importance of trend strength and the Dow theory, which suggests periods of consolidation with trend reversals. The analyst is concerned about the weakening trend strength and the stock's price breaching a lower low and an area of consolidation.
The analyst concludes by expressing concern about the weakening trend strength and the stock's price breaching a lower low and an area of consolidation. The analyst also mentions the importance of trend strength in defining resistance and price targets.
1. The speaker is discussing technical support for stocks.
2. The speaker mentions that less than half of the analysts covering a particular stock recommend it as a buy.
3. The stock is hard to find and its consensus price target for the next 12 months is at or above the current price.
4. The speaker is discussing the stocks that are very expensive and analysts don't seem to love.
5. The speaker is bullish about IBM and believes it's at a pivotal moment.
6. The speaker's key level for IBM is 135.
7. The speaker explains that 135 is an important level because it is a consistent area of supply.
8. The speaker is looking for areas of supply to become an area of demand.
9. The speaker has shifted to buying, which is a good sign.
10. The speaker wants to see the 200-weekly moving average move above that.
11. The speaker wants to see consistent higher lows and higher highs once the stock triggers their bullish trend and longer-term view.
12. The speaker expects a retracement, perhaps down just a short term like bear market rallies.
13. The speaker's support line is the 135 line.
14. The speaker is looking for weekly closes. If it goes below the 135 line, that is okay.
15. The speaker is looking for price action. However, a weekly close below the 135 line is a sign of weakness and would be areas of concern.
16. The speaker is bullish about IBM and believes it's at a pivotal moment.
17. The speaker is looking for the 40 line, which was an area of demand and was supported. The stock went back higher.
18. The speaker expects a retracement if they do not overcome the 40 line.
19. The speaker is looking for a higher high and is not beginning to do higher highs.
20. The speaker is looking for a breach of this lower low and this area of consolidation that they are concerned with.
21. The speaker is concerned about the weakening trend strength with all of the other indicators.