IBM Daily Technical Analysis | 6 December 2017
2017-12-06 07:55 am | Resource: Technical Analysis Section | No Views : 360
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
European markets started trading Wednesday in the red, led by the financial sector after US President Donald Trump failed to ease trade concerns. Speaking in New York, Trump renewed his threat to increase Chinese goods "tariff" significantly if there is no agreement. However, he said the United States and China were "close" to signing the first phase of the trade agreement. During his New York speech, Trump stressed that Beijing…
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