IBM Closed Yesterday Down -0.27%

The Hourly View for IBM

  • At the moment, IBM’s price is up $0.33 (0.28%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

IBM’s hourly price chart is shown below.

IBM

The Daily View for IBM

  • At the time of this writing, IBM’s price is down $-0.33 (-0.27%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on IBM. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between IBM’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in IBM’s price.

Below is a daily price chart of IBM.

IBM

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