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IBM Daily Technical Analysis | 15 December 2017

2017-12-15 09:03 am | Resource: Technical Analysis Section | No Views : 331

This week IBM shares rebounded from $ 153 to a peak of 156.77 and the stock hit 157.82, the highest level since October.

IBM Daily Technical Analysis | 15 December 2017

Now, our neutral view of the American trade as a result of breaking the trend line on the 240-minute time frame without confirming the break, the simple moving average and the slow moving average are still in a positive cross, but our outlook is neutral as a result of overlapping with the movement of the stock.
The index of the rate of change is still trading in a bearish trend, and the index shows that the reason why the stock is not moving in a wide range is weakness of both buyers and sellers, although buyers are weaker.
It is expected that as long as the American stock is trading below $ 154.59, it might target the level of 147.84 due to the presence of a negative pattern (2b) on the other side, if the breach of 157.42 might target 162.43.
Support: 146.26 - 141.59 - 139.05
Resistance: 157.09- 162.43- 166.84
Trend: neutral


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