Frankly, International Business Machines' (IBM) technical chart may need to be disclosed with an NC-17 warning. Up until last week, IBM stock at least had its head above water. Unfortunately, that head — along with other body parts — has been fully detached thanks to an Art-the-Clown-style massacre ala the "Terrifier" franchise.
Indeed, the ugliness has yielded a 48% Sell rating from the Barchart Technical Opinion indicator, an ignominious endorsement that wouldn't have happened were it not for Big Blue's weak preliminary second-quarter earnings report. Because the disclosure had serious implications for the disruptive potential of artificial intelligence, the shockwaves weren't just limited to IBM stock.
How To Find Options Trades This Earnings Season
Cisco Systems Stock Is in a Trading Range - Good For Shorting Puts and Calls
How to Use Barchart to Trade Like an Expert