Analyzing the stock price movement chart of IBM Corporation, we see that the price continues to fulfill buy signal and is still unable to start correction. Senior linear regression channel is directed downwards, Jr.- turned up, which allows now consider long positions in the market. "Golden Cross"- strong (as the price is above the Ichimoku cloud), so buy orders are relevant from this point of view. At the moment, the aim upward movement is the resistance level 185.46. If the price consolidates above the first target , the upward movement may continue with a view to the resistance level of 194.91. Bullish candlestick patterns "Absorption" signaled the continuation of the upward movement. MACD turned up, indicating that an upward movement, if the indicator will change the direction of motion downward, it could signal a turn trying to start a downward correction. Stochastic is in the overbought zone, which now indicates upward movement of prices and the absence of correction.
IBM stock price continues upward. On the current chart are advised to consider long positions with a view to 185.46. In case the price of this target has overcome, the new goal is to level 194.91. Stop-loss is recommended to set below the critical line (178.51). Closed manually longs will be the formation of a strong bearish candlestick pattern, at the turn of the MACD indicator down or if prices rebound from 185.46 level. Short positions are not relevant at the moment.
