IBM racks up gains - Analysis - 21-09-2018

Economies.com
2018-09-21 14:30PM UTC

IBM's stock kept rising in the intraday levels, with positive pressure from the 50-day SMA, coupled with positive signals from the RSI after reaching overbought levels, even as the stock was buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern. 

 

Therefore we expect more gains for the stock, targeting the resistance of 156.03, as long as the support of 147.41 holds on. 

 

Expected trend for today: Bullish     

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