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Daily RSI Divergence:Bullish
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/15/2024 -
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International Bus. Machines (IBM) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtRelative Strength Index and Lane's Stochastic bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the International Bus. Machines (IBM). During the week, the IBM dropped -4.88 points, or -2.49%, and closed at 191.07 on Friday, March 15, 2024. IBM was trading at average weekly trading volume.

IBM is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See IBM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 90.56 and reached 199.18 on March 12, 2024. IBM gained -108.62 points, or -119.94%, in 207 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (131.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.

Medium-term trend: [See IBM medium-term trend chart]
A medium-term uptrend had started on November 26, 2021 at 114.56 and reached 199.18 on March 12, 2024. IBM gained -84.62 points, or -73.87%, in 119 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (122.77) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See IBM weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bearish 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See IBM short-term trend chart]
A short-term uptrend had started on February 21, 2024 at 178.75 and reached 199.18 on March 12, 2024. IBM gained -20.43 points, or -11.43%, in 20 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See IBM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.60
Williams' Percentage Range (W%R) 35.20
Lane's Stochastic (%D-Slow) 56.53
Greed/Fear Indicator (GFI) 60.65
Moving Average Converg./Diverg. (MACD) 3.92
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.50
Bearish
Williams' Percentage Range (W%R) 11.40
Overbought
Lane's Stochastic (%D-Slow) 77.61
Bearish
Greed/Fear Indicator (GFI) 76.00
Moving Average Converg./Diverg. (MACD) 10.22
Trading Signals
Description Value Chart
Upper Bollinger Band 200.82
Parabolic System 199.38
Daily Stochastic Crossing 195.55
Weekly Stochastic Crossing 193.01
Price 191.07
20 Day Moving Average 189.63
50 Day Moving Average 181.72
Lower Bollinger Band 179.56
Quarterly Trendline Resistance 173.38
Yearly Trendline Resistance 153.51
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry IT Consulting & Other Services 77
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 178.75
Low Date 02/21/2024
High 199.18
High Date 03/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 135.87
Low Date 10/23/2023
High 199.18
High Date 03/12/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 120.55
Low Date 05/11/2023
High 199.18
High Date 03/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 173.38
Support 122.77
Low 114.56
Low Date 11/26/2021
High 199.18
High Date 03/12/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 153.51
Support 131.52
Low 90.56
Low Date 03/23/2020
High 199.18
High Date 03/12/2024
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.