IBM (IBM) Closes Last Hour Up $0.40; 2 Day Down Streak Snapped, Breaks Above 20 Day Average, Doji and Pin Bar Patterns Appearing on Chart

The Hourly View for IBM

Last Updated October 6, 2020, 01:07 GMT

At the moment, IBM’s price is up $0.81 (0.67%) from the hour prior. The hourly chart shows that IBM has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 20 hour changed directions on IBM; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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 122.01 US dollars, up 1.19% ($1.44) since the previous day. The price move occurred on volume that was up 4.1% from the day prior, but down 12.8% from the same day the week before. Let’s take a look at the daily price chart of International Business Machines Corp.

IBM

International Business Machines Corp Technical Analysis

First things first: International Business Machines Corp crossed above its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to IBM:

    $IBM I have a small position (I like potential turnaround story, solid dividend, blockchain and AI plays, etc) but I don't work in IT so maybe I'm missing something. Fellow holders, why IBM?

    JohnE1979