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Archive
- 7/19/2024 -
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International Bus. Machines (IBM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fifth consecutive positive week for the International Bus. Machines (IBM). During the week, the IBM climbed 0.48 points, or 0.26%, and closed at 183.25 on Friday, July 19, 2024. Weekly volume was -18% below average.
 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 (134.83) 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 downtrend had started on March 12, 2024 at 199.18 and reached 162.62 on May 2, 2024. IBM lost 36.56 points, or 18.36%, in 7 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (164.92) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. IBM may retest the broken resistance line. It is considered to be a support line now. 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 technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 May 2, 2024 at 162.62 and reached 189.47 on July 18, 2024. IBM gained -26.85 points, or -16.51%, in 77 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See IBM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 daily MACD line is above its signal line since May 10, 2024. This is an indication that the short-term trend is up.
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.
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