IBM CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 178.50 |
| Take Profit | 166.00 |
| Stop Loss | 181.00 |
| Key Levels | 166.00, 178.00, 182.00, 184.00, 188.00, 200.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 184.70 |
| Take Profit | 198.00 |
| Stop Loss | 180.00 |
| Key Levels | 166.00, 178.00, 182.00, 184.00, 188.00, 200.00 |
Shares of IBM Corp., a giant in the development and sale of hardware software, are trading at 182.00.
On the daily chart, the price is moving away from the support line of the ascending corridor with dynamic boundaries of 200.00–184.00.
On the four-hour chart, the quotes have broken the channel support line of 188.00 and are moving towards the mid-January low of 178.00, after which the breakdown is expected to reach the support level of 166.00.
Technical indicators have issued a sell signal: fast EMA on the Alligator indicator are moving away from the signal line, expanding the range of fluctuations, and the AO histogram is forming corrective bars, falling below the transition level.
Trading tips
Short positions may be opened after the price declines and consolidates below 178.50, with the target at 166.00 and stop loss 181.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 184.70, with the target at 198.00. Stop loss – 180.00.
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