IBM shakes hands with notable support following sizeable lossesInternational Business Machines CorporationBATS:IBMFPMarketsWith yesterday’s 13% drop, IBM is down nearly 30% so far this month. Monday’s sell-off sent the Stock below three key supports – two 1M levels at US$241.01 and US$227.50, and one 3M base at US$248.07 – which are now labelled as resistance. The one-way move also drove price into support around US$221.00, which is crafted by 1Y and 3M levels. While the US$221.00 area offers traders notable support, any upside move could be capped by the neighbouring 1M resistance at US$227.50. Should price drop through current support, this could open the door for further selling to another layer of support between US$203.48 (3M) and US$207.73 (1M). Written by the FP Markets Research Team