IBM attacks current resistance - Analysis - 20-02-2019

Economies.com
2019-02-20 13:20PM UTC

IBM's stock rose 0.49% in the last session, or 0.67 points, while tackling the resistance of 138.54, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 171.13 to 105.94), scoring a profit of 0.49% in the last session, with positive signals from the RSI, with positive support from the 50-day SMA. 

 

Therefore we expect more gains for the stock, especially if the resistance of 138.54 was breached, targeting the next one at 146.23, which represents the ratio 61.8% of the same retracement levels. 

 

Expected trend for today: Bullish 

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