Technical Signs Suggest IBM’s Downtrend May Be Stalling

The Hourly View for IBM

  • At the moment, IBM’s price is up $0.14 (0.11%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as IBM has now gone up 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 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on IBM. Given that we see an uptrend on the 20 and 10 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

IBM’s hourly price chart is shown below.

IBM

The Daily View for IBM

  • Currently, IBM’s price is up $0.69 (0.56%) from the day prior.
  • The daily chart shows that IBM has seen 2 straight up days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists 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

Featured IBM Commentary From Twitter

Once IBM claims the metaverse it will complete its lifecycle

(…as the VH1-Myspace-Hypercolor-Skidz-Cavaracci-Girbaud-once-fashionable-curious-and-confusing-turned-shark-jumped-term…)

And launch ironically + mockingly from new generation in way nobody saw coming https://t.co/mprQ6HtkLRNA

wolfejosh