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- 3/28/2024 -
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International Bus. Machines (IBM) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance lineBroken trend resistance line
Daily :Lane's Stochastic is oversoldA Parabolic SAR indicator is below and near the priceBullish Doji CandlestickThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the International Bus. Machines (IBM). During the week, the IBM climbed 0.12 points, or 0.06%, and closed at 190.96 on Thursday, March 28, 2024. Weekly volume was -11% 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 (131.87) 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 (122.91) 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. 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 link to access 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. 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 March 12, 2024 at 199.18 and reached 188.50 on March 26, 2024. IBM lost 10.68 points, or 5.36%, in 14 days. The chart has formed a Falling Wedge chart pattern.

Daily Technical Indicators: [See IBM daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down.

A Parabolic SAR (stop and reversal) indicator (192.6) comes close to the price (190.96). It indicates that the trend is getting weaker. 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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.02
Williams' Percentage Range (W%R) 58.90
Lane's Stochastic (%D-Slow) 19.27
Oversold
Greed/Fear Indicator (GFI) 33.81
Moving Average Converg./Diverg. (MACD) 2.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.24
Williams' Percentage Range (W%R) 15.30
Overbought
Lane's Stochastic (%D-Slow) 78.83
Greed/Fear Indicator (GFI) 75.18
Moving Average Converg./Diverg. (MACD) 11.01
Trading Signals
Description Value Chart
Upper Bollinger Band 196.12
Weekly Stochastic Crossing 195.33
20 Day Moving Average 192.67
Parabolic System 192.60
Price 190.96
Daily Stochastic Crossing 189.70
50 Day Moving Average 186.86
Lower Bollinger Band 185.14
Quarterly Trendline Resistance 173.96
Yearly Trendline Resistance 153.52
Sector and Industry
Description Name Rank
Sector Information Technology 7
Industry IT Consulting & Other Services 44
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
High 199.18
High Date 03/12/2024
Low 188.50
Low Date 03/26/2024
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 173.96
Support 122.91
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 153.52
Support 131.87
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.