IBM may rise to 204.40 - 208.60

183.5 is our pivot point.

Our preference

As long as 183.5 is support look for 204.4.

Alternative scenario

The downside breakout of 183.5 would call for 176.3 and 172.2.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 188.082 and 178.8408).

Supports and resistances

213 **

208.6 *

204.4 **

200.2

189.48 (USD-last)

186.2

183.5 **

176.3 *

172.2 **

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