This trade analysis based on two levels, the support trade line and the resistance trade line (Orange color arrow). When the stock NYSE:IBM reach the 1st Fibonacci 127.2% it follow the Fibonacci retrace down to 61% - 50% and reach the Support trade line. At this moment, around 121$, its the time to take a profit at the 2nd Fibonacci 127% level. As well as for the 3rd ..... (144$) When you look the MACD indicator it's will be the good time to buy the stock at low level