IBM Enters Today Up 0.67%

The Daily View for IBM

  • At the time of this writing, IBM’s price is up $0.17 (0.12%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as IBM has now gone down 4 of the past 5 days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. 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.

IBM’s hourly price chart is shown below.

IBM

The Daily View for IBM

  • At the moment, IBM’s price is up $0.95 (0.67%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of IBM.

IBM

Featured IBM Idea From TradingView

Below is a trading comment entitled Bearish Divergence at PCZ of Bearish Gartley you may find interesting:

It may be time for IBM to fill the gap at $133.50 as it has hit the PCZ of a Bearish Gartley and is showing Bearish Divergence on the Stochastic RSI, MACD, and MFI.Gap fills rarely act as support or resistance so if IBM fills the gap i’d expect it to go a little lower than $133.50 and perhaps drop down to $128 before attempting a rally.

RizeSenpai