IBM (IBM) Price Near $131.47; Crosses 200 Day Moving Average, Heads Up For the 2nd Straight Day, Price Base in Formation Over Past 90 Days

The Hourly View for IBM

Last Updated October 9, 2020, 02:05 GMT

Currently, IBM’s price is up $9.36 (7.54%) from the hour prior. This is the 2nd consecutive hour IBM has seen its price head up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

International Business Machines Corp Daily Price Recap

International Business Machines Corp came into today up 5.98% ($7.42) from the open of the day prior, marking the 2nd straight day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 794.97% from the day prior, and up 1096.08% from the same day the week before. Here is a daily price chart of International Business Machines Corp.

IBM

International Business Machines Corp Technical Analysis

Moving average crossovers are always interesting, so let’s start there: International Business Machines Corp crossed above its 200 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days International Business Machines Corp’s price has gone up 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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