Stock For Today: IBM Corporation
Analyzing the stock price movement chart of IBM Corporation, we see that the price continues downward correction and fixed below the critical line. Senior linear regression channel is directed upward, Jr. -also sent up, which allows to consider long positions in the market. "Golden Cross" -weak (since the price is within the Ichimoku cloud), so buy orders are not relevant at this point. At the moment, the aim upward movement is the resistance level 200.11, but will be open longs only above the Kijun-sen. If the price consolidates above the first target, the upward movement may continue with a view to the resistance level of 210.64. Bearish "Khwarizmi" and "Evening Star" witnessed the beginning of a correction. MACD is pointing down, indicating downward movement, if the indicator will unfold the top, it can attest to the completion of a downward correction. Stochastic overbought area left that signals now on corrective movement. If the price consolidates above the critical line, it could trigger the resumption of the upward movement. Youngest chart are advised to consider the downward movement with the goals of Senkou Span B and the level of support 185.46, while fixing below the Kijun-sen. When opening/fixing prices above the Tenkan-sen topical will be upward movement with the goals of the resistance levels 194.91 and 200.11.
Trading Recommendations for a 4-hour Timeframe:
Share price IBM continues to be adjusted. On the current chart are advised to consider long positions with a view to 200.11. In case the price of this target has overcome, the new goal is to level 210.64. Stop Loss recommended to set below the critical line (192.80). When opening buy orders MACD must be sent up, and the price - located above the critical line. Short positions are not relevant at the moment.
