June 21, 2012

IBM Chart Analysis


  • Daily chart of IBM is testing resistance levels.
  • Price is unable to cross 100 Day SMA. It is also a confluence of resistance as price resistance is near the Golden ratio.
  • IBM hourly charts continue to look bullish. Hour is showing a Golden cross. This zone of 50 and 200 Hour SMA will act as support. IBM bears must break below this zone for the resistance levels of daily to be effective.



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