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IBM ticking at key resistance, watch for fade or breakout

The shares are ticking at the $210 area, close to life highs and a third time up to the area. So far the stock has always been turned back. If it does edge through it and this resistance level becomes support, the stock could break out to the upside. Given that it is the heaviest weight in the Dow Jones Industrials Average and a heavy weight in the S&P 500 this could have major implications for higher index prices. Similarly, another failure at resistance could see a lower trading range resume and negatively impact the indexes.