IBM (IBM) Closes Last Hour Down $-0.01; in an Uptrend Over Past 14 Days, Price Base in Formation Over Past 90 Days, Moves Down For the 2nd Straight Day

The Hourly View for IBM

Last Updated October 13, 2020, 02:07 GMT

At the moment, IBM’s price is down $-0.34 (-0.27%) 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. 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 0.45% ($0.58) since the day prior, marking the 2nd straight day a decline has happened. The change in price came along side change in volume that was down 44.76% from previous day, but up 43.68% from the Monday of last week. Here is a daily price chart of International Business Machines Corp.

IBM

International Business Machines Corp Technical Analysis

The first thing we should note is that International Business Machines Corp is now close to its 200 day moving averages, which may act as price barrier for the asset. 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 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 kudos to CNBC guy adami who said take the money and run off that bs pop for “newco”

    shersadros