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IBM Daily Technical Analysis | 17 November 2017

2017-11-17 11:03 am | Resource: Technical Analysis Section | No Views : 344

While retesting IBM's broken trend line on the 240-minute time frame, the American stock broke through the bearish trend line.

IBM Daily Technical Analysis | 17 November 2017

Currently, our neutral outlook on the US electronic instruments, and the simple moving average is overlapping with the movement of the stock to confirm our neutral view.
The rate of change 12 is trading in a bullish direction as a result of the breach of the bearish trend line during yesterday's trading.
It is expected that, if the American stock break below the level of 151.73 $ may target the level of 160.62 on the other side in case, breaking the level of 146.26 may target the level of 141.59.
Support: 146.26 - 141.59 - 139.05
Resistance: 157.09- 162.43- 166.84
Trend: neutral


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