IBM (IBM) Closes Prior Hour Down -0.03%; Price Base in Formation Over Past 90 Days, Moves Down For the 3rd Day In A Row, Crosses 200 Day Moving Average

The Hourly View for IBM

Last Updated October 14, 2020, 02:024 GMT

At the time of this writing, IBM’s price is down $-1.8 (-1.41%) from the hour prior. The hourly chart shows that IBM has seen 3 straight down hours. 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

International Business Machines Corp is down 1.66% ($2.11) since the previous day, marking the 3rd day in a row a decrease has occurred. As for how volume fared, yesterday’s volume was up 15.73% from the previous day (Monday), and up 83.26% from Tuesday of the week before. Here is a daily price chart of International Business Machines Corp.


International Business Machines Corp Technical Analysis

Moving average crossovers are always interesting, so let’s start there: International Business Machines Corp crossed below 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. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 15 out of the past 30 days.

Overheard Around the Web

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

    Live. Intraday.
    NYSE and NASDAQ VOLUMES have been SELL DOMINATED all day. Multiple attempts made in pushing up failed today. None occurring on NYSE, but one being attempted in NASDAQ now. Observing. Probably will fail too.

    NYSE consistent down. NASDAQ tried counter and struggled, and had gone back to sell domination volume.