IBM Daily Technical Analysis | 6 December 2017
2017-12-06 07:55 am | Resource: Technical Analysis Section | No Views : 332
It is worth noting that the simple moving average is positively intersecting the slow moving average which supports the stockholders.
The stock is currently going through a 61.8% Fibonacci retracement of a previous trend, which is the strongest resistance in the Fibonacci ratio so far, which has not been breached by the American stock and at the same time did not confirm the failure of penetration, therefore advised the owners of purchasing centers to close some of the open positions.
Change rate indicator 12 broke the downtrend line during last Friday's trading.
It is expected that if the US stock is breached at the level of 156.77 $ may target the level of 161.44 on the other side in case, breaking the level of 154.41 may target the level of 147.18.
Support: 146.26 - 141.59 - 139.05
Resistance: 157.09- 162.43- 166.84
US stock markets began the last trading session of the week slightly higher after the media reported that Washington is ready to grant temporary tariff exemptions to 437 Chinese products. At the same time, another report claimed that the United States would not remove import tariffs on auto parts made in Japan as part of the expected trade agreement. In business news, Apple launched. The new iPhone 11 series worldwide.…
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