IBM may rise to 232.60 - 236.00

Our pivot point stands at 214.9.

Our preference

As long as 214.9 is support look for 232.6.

Alternative scenario

Below 214.9, expect 209.6 and 206.3.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 215.6775 and 202.7288).

Supports and resistances

239.3 **

236 *

232.6 **

229.5

222.72 (USD-last)

217.1

214.9 **

209.6 *

206.3 **

Number of asterisks represents the strength of support and resistance levels.