Swing trade IBM 11.12.15

Although we are in down trend market in SPX I expect for a small rebounce today and maybe tomorrow. Here is a swing trade I placed today. Long IBM @ 187.93$ Stop loss 185$. On a 60min chart you can see there is a support at the zone of 186.50$ - 187$, moreover, there is a 200 MA near close. It is less risky trading where you can find the support of a important price level and important moving average.

 In case we look at a daily chart we can see that there is a TA (traders actions) zone in play. We are above 200 MA so the trend is UP. Lets wait and see how this will play out..