IBM (IBM) Closes Prior Hour Down -0.03%; Breaks Above 50 and 100 Day Averages

The Hourly View for IBM

Last Updated October 8, 2020, 01:020 GMT

At the moment, IBM’s price is up $1.18 (0.97%) from the hour prior. IBM has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 back and forth price flow continues for International Business Machines Corp, which started today off at 124.07 US dollars, up 1.72% ($2.1) from the day prior. This move happened on lower volume, as yesterday’s volume was down 28.05% from the day before — and down 20.64% from the same day the week before. Here is a daily price chart of International Business Machines Corp.

IBM

International Business Machines Corp Technical Analysis

Moving average crossovers are always interesting, so let’s start there: International Business Machines Corp crossed above its 50 and 100 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about IBM:

    The 72 Tech Stocks in the S&P 500 Yield 1% on Average. These 6 Yield More Than 2%. $MSFT $AAPL $TXN $IBM $CSCO

    https://newsfilter.io/a/c03898d54c3fcceac1d132fca6e02b7c

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