| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 207.40 |
| Take Profit | 220.00 |
| Stop Loss | 202.00 |
| Key Levels | 188.60, 195.00, 200.00, 205.00, 207.40, 208.00, 210.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 201.50 |
| Take Profit | 188.60 |
| Stop Loss | 205.00 |
| Key Levels | 188.60, 195.00, 200.00, 205.00, 207.40, 208.00, 210.00 |
Shares of IBM Corp., a giant in the field of development and sale of hardware software, are trading in a correction trend at 205.00.
On the daily chart, the price is approaching the resistance line of the ascending channel with dynamic boundaries of 210.00–195.00.
On the four-hour chart, the quotes renewed the annual high of 198.00. If growth continues, the next targets will be the channel resistance line of 208.00 and 220.00. If the asset falls below the 200.00 area, it may reach the channel support line of 195.00.
Technical indicators strengthen the buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, expanding the range of oscillation, and the AO histogram is forming ascending bars, rising above the transition level.
Trading tips
Long positions may be opened after the price rises and consolidates above 207.40, with the target at 220.00. Stop loss — 202.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 201.50, with the target at 188.60 and stop loss of 205.00.
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