IBM CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 200.00 |
| Take Profit | 215.00 |
| Stop Loss | 194.00 |
| Key Levels | 180.00, 180.30, 192.00, 196.00, 198.00, 208.00, 210.00, 215.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 192.00 |
| Take Profit | 180.30 |
| Stop Loss | 196.00 |
| Key Levels | 180.00, 180.30, 192.00, 196.00, 198.00, 208.00, 210.00, 215.00 |
Shares of IBM Corp., a giant in the development and sale of hardware software, are trading in a corrective trend at 198.00.
On the daily chart, the price is within the global ascending corridor with dynamic boundaries of 210.00–180.00, forming another wave of growth.
On the four-hour chart, after the breakout of the previous local high of 196.00, there are practically no obstacles to further movement, which is confirmed by the ongoing development of the Flag trend continuation pattern with the implementation level of 208.00.
Technical indicators hold a buy signal: fast EMAs on the Alligator indicator move away from 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 200.00, with the target at 215.00. Stop loss – 194.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 192.00, with the target at 180.30 and stop loss 196.00.
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