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IBM Daily Technical Analysis | 8 January 2018

2018-01-08 12:01 pm | Resource: Technical Analysis Section | No Views : 301

During the past week, IBM has breached the secondary downtrend line on the 4 hour interval and broke through the $ 157.82 level, confirming the breach of the bearish trend line.

IBM Daily Technical Analysis | 8 January 2018

Currently, the American stock is trading in a bullish direction, and the SMA is positively intersecting with the slow moving SMA and breaching 154.75 areas.
Change rate indicator 12 broke the downtrend line during the last week of December last year.
It is expected that, if the US electronic shares to the level of 162.43 $ may target areas of 166.84, while in case of a break, the level of 159.32 may target the level of 147.72.
Support: 157.09- 146.26- 141.59
Resistance: 162.43- 166.84- 192.95
Trend: Up

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