Gap Fill play starring International Business Machines

For anyone that studies charts frequently, one of the common things present in all charts are Gaps. These gaps almost always get filled, at some point, so one of the strategies is to play for the Gap Fill.

For an example, I bring you the Daily chart of $IBM:

IBM_gap_fillSeveral things point to the potential for this including:

1) Topping Tail Festival has formed over the past 6 candles

2) MACD has peaked, matching the October 2012 highs

If no position, just keep an eye out for a break below $203 with a target of $190.

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