IBM Daily Technical Analysis | 25 October 2017
2017-10-25 08:10 am | Resource: Technical Analysis Section | No Views : 351
At 162.43, the stock failed to break through and started to fall again. The SMA and the slow moving SMA are positively choppy and trading below the level of the stock to form a support level.
Through the chart above, we note a negative fractal on the 4 hour interval will lead to falling US electronics stocks.
The rate of change 12 is falling from on down and is still trading in a bearish direction.
It is expected that as long as the American stock is trading below $ 159.23 and might target the level of 146.26 on the other side in case, the breach of the stock to the level of 162.43 may target the level of 166.84.
Support: 146.26 - 141.59 - 139.05
Resistance: 157.09- 162.43- 166.84
US stocks opened in the red on Monday after US President Donald Trump said on Friday he did not agree to abolish tariffs on Chinese goods and would not accept them all. Earlier in the day, the Chinese Foreign Ministry criticized US technology chief Michael Kratsius after accusing technology giant Huawei of spying. US economic data is not expected to be released today due to Veterans Day. USD Falls on…
- Stocks in Europe open to losses as trade concerns persist 08:55 am2019-11-11
- Asian markets fell after Japanese data , protests in Hong Kong 06:46 am2019-11-11
- European markets shares fell lower on focus on trade deal 08:30 am2019-11-08
- Asian stocks mixed amid trade developments between US and China 06:43 am2019-11-08
- Dow jumps over 200 points as a result of positive trade signals from China 04:56 pm2019-11-07
- European shares markets rise as US and China agree on tariffs 08:36 am2019-11-07
- Asian markets were mixed amid reports of delays in the trade deal 06:50 am2019-11-07
- Wall Street opens steadily after reports of trade deal at risk 03:46 pm2019-11-06
- European shares open relatively flat after data from Germany 08:51 am2019-11-06