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IBM Daily Technical Analysis | 25 October 2017

2017-10-25 08:10 am | Resource: Technical Analysis Section | No Views : 330

IBM shares rose strongly during last week's trading as a result of the company's positive earnings, which led to a violent rally with a price gap.

IBM Daily Technical Analysis | 25 October 2017

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
Trend: Down


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