IBM shares closed higher Wednesday trades by   (3.38) point or (2.28%) , as the price got support from the SMA 50 and 100 previously, comes after retesting the resistance represented in 152.48 level, which coincided with 61.8% correction level for the decline from 174.47 to 116.00.

The mentioned resistance stability pushed the price to retest the support around 145.70 level, as if the price held below it the price will retest the next support at 140.60, but the stability of the price above 145.70 will lead for a rise targeting the retest of 151.05 resistance again.

General direction remains bullish but its recommended to get out the current positions and wait for the price’s stability above 152.48 resistance, to target then 162.15 resistance and to stop losses below 151.05 level.