IBM may rise to 181.90 - 184.60

Our pivot point stands at 168.

Our preference

Our next up target stands at 181.9.

Alternative scenario

The downside breakout of 168 would call for 163.7 and 161.1.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the stock is above its 20 and 50 day moving average (respectively at 169.106 and 171.701). Finally, IBM has crossed above its upper daily Bollinger band (173.82).

Supports and resistances

187 **

184.6 *

181.9 **

179.3

173.92 (USD-last)

169.5

168 **

163.7 *

161.1 **

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