The Greedy Trader Weekly Analysis
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- 11/2/2018
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International Bus. Machines
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Summary:
Weekly :Broken trend support line - Downtrend exhaustionWilliams' Percentage Range is oversoldLane's Stochastic bullish divergence
Daily :Relative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversoldStochastic has raised above the signal lineRelative Strength Index and MACD bullish divergenceBearish Dark Cloud Cover CandlestickThe Bollinger Bands are historically far apart
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It was the negative week for the International Bus. Machines (IBM). During the week, the IBM dropped -9.12 points, or -7.31%, and closed at 115.67 on Friday, November 02, 2018. Weekly volume was 259% above average.

Long-term trend: [See IBM long-term trend chart]
A long-term downtrend had started on March 15, 2013 at 215.90 and reached 114.09 on October 31, 2018. IBM lost 101.81 points, or 47.16%, in 293 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 43.28 and resistance is at 165.69. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See IBM medium-term trend chart]
A medium-term downtrend had started on February 16, 2017 at 182.79 and reached 114.09 on October 31, 2018. IBM lost 68.70 points, or 37.58%, in 88 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend support line (136.74) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See IBM weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since October 12, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See IBM short-term trend chart]
A short-term downtrend had started on October 3, 2018 at 154.36 and reached 114.09 on October 31, 2018. IBM lost 40.27 points, or 26.09%, in 28 days. Price is near the trend low.

Daily Technical Indicators: [See IBM daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Daily Relative Strength Index and MACD have bullish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bullish divergence. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since October 4, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.

The distance between the Bollinger Bands (37.11%) is close to one year high (31.25%). It is 349.47% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See IBM candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 18.58
Oversold Bullish
Williams' Percentage Range (W%R) 90.20
Strong Oversold
Lane's Stochastic (%D-Slow) 8.05
Strong Oversold
Greed/Fear Indicator (GFI) 12.14
Oversold
Moving Average Converg./Diverg. (MACD) -6.44 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 20.77
Williams' Percentage Range (W%R) 91.50
Strong Oversold
Lane's Stochastic (%D-Slow) 25.82
Bullish
Greed/Fear Indicator (GFI) 22.60
Moving Average Converg./Diverg. (MACD) -1.71
Trading Signals
Description Value Chart
Upper Bollinger Band 150.73
50 Day Moving Average 141.64
Quarterly Trendline Support 136.74
20 Day Moving Average 131.04
Parabolic System 119.98
Weekly Stochastic Crossing 118.66
Price 115.67
Daily Stochastic Crossing 115.55
Lower Bollinger Band 107.79
Sector and Industry
Description Name Rank
Sector Technology 5
Industry Diversified Computer Sys 47
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 131.90
High Date 10/23/2018
Low 114.09
Low Date 10/31/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 154.36
High Date 10/03/2018
Low 114.09
Low Date 10/31/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 171.13
High Date 01/18/2018
Low 114.09
Low Date 10/31/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 154.48
Support 136.74
High 182.79
High Date 02/16/2017
Low 114.09
Low Date 10/31/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 165.69
Support 43.28
High 215.90
High Date 03/15/2013
Low 114.09
Low Date 10/31/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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