IBM CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 150.00 |
| Take Profit | 154.00 |
| Stop Loss | 148.00 |
| Key Levels | 140.00, 144.00, 146.50, 148.00, 154.00, 155.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 146.00 |
| Take Profit | 140.00 |
| Stop Loss | 148.00 |
| Key Levels | 140.00, 144.00, 146.50, 148.00, 154.00, 155.00 |
Shares of IBM Corp., a global giant in the development and sale of hardware software, are moving within a corrective trend at 148.00.
On the daily chart, the price is preparing for continued growth within the global ascending corridor with dynamic boundaries of 154.00–144.00.
On the four-hour chart, after a breakout of the previous local high of 146.50, there are practically no obstacles to further growth, and soon, the price may reach the channel resistance line of 155.00. After a breakdown of the channel support line at 144.00, short positions will become relevant.
Technical indicators keep a global buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range of fluctuations, and the AO histogram forms corrective bars above the transition level.
Trading tips
Long positions may be opened after the price rises and consolidates above 150.00 with the target at 154.00. Stop loss – 148.00. Implementation period: 7 days or more.
Short positions may be opened after a reversal, decline, and consolidation of the price below 146.00 with the target at 140.00 and stop loss 148.00.
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