IBM returns higher - Analysis - 17-04-2018

IBM's stock returned higher in the intraday levels, scoring a profit of 0.75% in the last session, or 1.18 points, amid positive support from the 50-day SMA, while the stock forms a harmonic pattern in the short term, the negative Gartley pattern, moving thereafter in the fourth and final wave within this pattern. 

Therefore we expect more gains for the stock, as long as the support of 157.81 holds on, targeting the resistance of 165.38.