IBM may rise to 244.10 - 247.60

225.8 is our pivot point.

Our preference

As long as 225.8 is support look for 244.1.

Alternative scenario

The downside breakout of 225.8 would call for 219.8 and 216.4.

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 positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 226.232 and 211.1886).

Supports and resistances

251.3 **

247.6 *

244.1 **

240.4

232.88 (USD-last)

228.3

225.8 **

219.8 *

216.4 **

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