IBM (IBM) Price Near $122.45; Heads Up For the 2nd Day In A Row, Pin Bar Pattern Appearing on Chart

The Hourly View for IBM

Last Updated September 15, 2020, 23:15 GMT

Currently, IBM’s price is up $0.57 (0.47%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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

International Business Machines Corp closed the day prior up 0.52% ($0.63); this denotes the 2nd day in a row an upward move has occurred. The change in price came along side change in volume that was up 2.65% from previous day, but down 44.65% from the Monday of last week. Here is a daily price chart of International Business Machines Corp.

IBM

International Business Machines Corp Technical Analysis

Coming into today International Business Machines Corp is now close to its 20, 50 and 100 day averages, located at 123.65, 123.76 and 123.32 respectively, and thus may be at a key juncture along those timeframes. 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 5 out of the past 10 days. 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:

    $IBIO $VXRT $CVAC $TSLA $IBM Keep in mind that what iBio Inc. is doing right now. Building that outstanding team and partnership web. This is what will ensure the longevity of the company. iBio is currently using tried and true methods of vaccine manufacturing. Really sticking to the books as far as efficacy goes. When they are successful in creating their first vaccine they'll have not only created an extremely solid base of an institution, but also prove that FastPharming is effective. Once the plant based bioreactors are able to produce a viable vaccine the system can be adapted to the next strain of SaRs at a rapid pace, thus keeping on top of pandemics in the future.

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