IBM (IBM) Closes Prior Hour Up 0.02%; is Inching Close to 200 Day Average

The Hourly View for IBM

Last Updated October 20, 2020, 10:12 GMT

Currently, IBM’s price is up $0.8 (0.64%) 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. Price action traders may also wish to note that we see a pin bar candlestick pattern on IBM. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 back and forth price flow continues for International Business Machines Corp, which started today off at 125.52 US dollars, down 0.33% ($0.41) from the day prior. The price move occurred on volume that was up 33.46% from the day prior, but down 75.12% 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

Notably, International Business Machines Corp is now close to its 20, 50, 100 and 200 day averages, located at 123.22, 123.65, 123.6 and 125.44 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days International Business Machines Corp’s price has gone down 8 them.

Overheard Around the Web

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

    $IBM This is what caused the stock to fall during the conference call … “On a conference call, IBM (IBM) Chief Financial Officer James Kavanaugh said the company would be taking charges of $ 2.3 billion in the fourth quarter "to simplify and streamline our business" as the company transitions to spinning off its IT outsourcing business. "Given this uncertainty and consistent with our direction for most of this year, we are not going to provide guidance."

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