IBM (IBM) Closes Last Hour Up $0.24; Breaks Below 200 Day Average

The Hourly View for IBM

Last Updated October 16, 2020, 02:010 GMT

At the moment, IBM’s price is down $-0.89 (-0.71%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 124.89 US dollars, down 0.83% ($1.05) since yesterday. This move happened on lower volume, as yesterday’s volume was down 9.53% from the day before — and down 12.89% from the same day the week before. Below is a daily price chart of International Business Machines Corp.

IBM

International Business Machines Corp Technical Analysis

First things first: International Business Machines Corp crossed below its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that International Business Machines Corp’s price has gone down 8 of the previous 14 trading days.

Overheard Around the Web

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

    $IBM IBM and ServiceNow expand partnership with new joint solution IBM (IBM) and ServiceNow (NOW) are expanding their strategic partnership designed to apply AI to automate IT operations. Available later this year, a new joint solution will combine IBM's AI-powered hybrid cloud software and professional services to ServiceNow's intelligent workflow capabilities and IT service and operations management products. The solution is engineered to help clients realize AI-driven insights from their data, create a baseline of a typical IT environment, and take recommended actions on outlying behavior to help prevent and fix IT issues at scale. IBM and ServiceNow will deliver a joint IT solution that marries IBM Watson AIOps with ServiceNow's intelligent workflow capabilities and market-leading ITSM and ITOM Visibility products to help customers prevent and fix IT issues at scale.
    $NOW

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