July 18, 2013

IBM Chart analysis

  • IBM weekly chart is in a range and price near the bottom of the range.
  • So tomorrow a daily close above 195 to 198 levels should favor bulls of IBM. On the other hand trading below 191 levels may lead stock towards 188 and lower levels.
  • Today price has managed to close above 20 Day SMA. So if price sustains above 194 it may do a triangle breakout in favor of bulls.

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