IBM CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 187.50 |
| Take Profit | 198.00 |
| Stop Loss | 183.00 |
| Key Levels | 167.00, 180.00, 182.50, 185.00, 187.50, 190.00, 198.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 182.50 |
| Take Profit | 173.00 |
| Stop Loss | 187.00 |
| Key Levels | 167.00, 180.00, 182.50, 185.00, 187.50, 190.00, 198.00 |
Shares of IBM Corp., a giant in the field of development and sale of hardware software, are moving in a corrective trend at 185.00.
On the daily chart, the price is moving away from the Neckline of the global Head and shoulders pattern at 180.00.
On the four-hour chart, after covering the recent price gap of 167.00–183.00, the quotes are moving towards the year’s high of 198.00, which is confirmed by the continuation of the signal from the reversal Head and shoulders formation with the target at 190.00.
Technical indicators are strengthening the buy signal: fast EMA on the Alligator indicator are actively moving away from the signal line, expanding the range of oscillation, and the AO histogram is forming ascending bars, rising in the positive zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 187.50, with the target at 198.00. Stop loss — 183.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 182.50, with the target at 173.00 and stop loss of 187.00.
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