International Business Machines Corp (IBM) Moves Up For the 3rd Day In A Row
Huge entry point for me now that it’s down 12% overnight.
(Last Updated January 23, 2021)
Hello! This is the news page for International Business Machines Corp. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
If we observe the 90 and 30 day timeframes, we see an uptrend in place for IBM.
IBM’s moving averages tell a multi-facted story about its trend. The 50 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 100 day averages that imply a bearish trend. Moreover, today we saw the 20 and 100 moving average turn bearish.
The chart below illustrates.
Huge entry point for me now that it’s down 12% overnight.
Or to view things another way, note that out of the past 10 days international business machines corp’s price has gone up 5 them.
This is a reversal of the price action on the previous hour, in which price moved down.
The price move occurred on volume that was down 33.45% from the day prior, but up 4.3% from the same day the week before.
This move is a reversal from the hour prior, which saw price move up.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 14.67% from the day prior, and up 120.44% from the same day the week before.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 44.59% from the day prior, and up 27.71% from the same day the week before.
The change in price came along side change in volume that was up 3.76% from previous day, but down 42.62% from the thursday of last week.
I can finally go long on this one for 2021.
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.