IBM (IBM) Closes Prior Hour Down -0.59%; Pin Bar Pattern Appearing on Chart, Eyes 20 Day Average, Price Base in Formation Over Past 14 Days

The Hourly View for IBM

Last Updated October 7, 2020, 02:016 GMT

At the time of this writing, IBM’s price is up $1.21 (0.99%) from the hour prior. The hourly chart shows that IBM has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 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

The choppiness in the recent daily price action of International Business Machines Corp continues; to start today, it came in at a price of 121.97 US dollars, down 0.03% ($0.04) since the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 25.56% from the day prior, and up 32.25% from the same day the week before. Let’s take a look at the daily price chart of International Business Machines Corp.


International Business Machines Corp Technical Analysis

The first thing we should note is that the current price of International Business Machines Corp is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 14 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 30 days International Business Machines Corp’s price has gone up 15 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about IBM:

    $IBM Oct 05
    – Daily stock market timing forecast –
    ◆ Investing view
    => Neutral – Bullish
    ◆ Search for the daily stock market timing forecast
    ◆ Upper~Lower stock price band for the next 10 days
    Price: 119.69 ~ 125.91
    % Change: -1.90% ~ 3.20%
    ◆ Today's Supply-Demand(S&D) strength
    => Supply-Demand strength has changed to a strengthening buying flow when stock market opening.

    ◆ Daily Supply-Demand(S&D) strength Trend
    => In the midst of an upward trend of strong upward momentum price flow marked by the temporary falls and strong rises.