Technical Signs Suggest IBM’s Downtrend May Be Stalling

The Hourly View for IBM

  • Currently, IBM’s price is up $0.1 (0.08%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as IBM has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • Of note is that the 50 hour changed directions on IBM; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

IBM’s hourly price chart is shown below.

IBM

The Daily View for IBM

  • Currently, IBM’s price is up $0.93 (0.75%) from the day prior.
  • The daily chart shows that IBM has seen 2 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence alert: Trend in IBM’s price and its RSI are diverging. IBM’s price is declining slower than its RSI.

Below is a daily price chart of IBM.

IBM

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