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IBM Daily Technical Analysis | 14 November 2017

2017-11-14 08:28 am | Resource: Technical Analysis Section | No Views : 342

During the previous report, IBM shares were trading in a downtrend in formation. Currently, the American stock has broken the bullish trend line during yesterday's trading.

IBM Daily Technical Analysis | 14 November 2017

The simple moving average and the slow moving average are both negative and negatively intersected with the long term moving average.
The rate of change 28 is trading in a downtrend on the interval of 240 minutes.
It is expected that as long as the American stock is trading below $ 150.21, it might target the level of 141.59 on the other side, if the breach of 151.72 might target the level of 160.57 and the trend will move higher.
Support: 146.26 - 141.59 - 139.05
Resistance: 157.09- 162.43- 166.84
trend: Down


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