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IBM Daily Technical Analysis | 7 February 2018

2018-02-07 08:29 am | Resource: Technical Analysis Section | No Views : 318

IBM shares broke the bullish trend line during the beginning of this week on the back of positive non-farm jobs, which has made the dollar look stronger and better maintained.

IBM Daily Technical Analysis | 7 February 2018

The US stock is trading in a bearish direction in secondary formation, and the SMA is breached negatively with the slow moving SMA, confirmed by the $ 161 break.
Rate of Change 12 Break the trend line with the beginning of trading this month and currently trading in a downward trend in the configuration.
It is expected that, if the American stock is breached to $ 150.05, it may target 139.5 zones, while in case of a breach, the level of 168.98 might target the 172.95 level.
Support: 146.26- 141.59- 139.05
Resistance: 157.09- 162.43- 166.84
Trend: Down

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