IBM may rise to 176.80 - 179.30

Our pivot point is at 164.1.

Our preference

Short term rebound towards 176.8.

Alternative scenario

Below 164.1, expect 160 and 157.5.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the share stands above its 20 day moving average (169.0285) but below its 50 day moving average (172.787).

Supports and resistances

181.7 **

179.3 *

176.8 **

174.4

169.21 (USD-last)

165.6

164.1 **

160 *

157.5 **

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