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International Business Machines Corporation (IBM) “On a long-term technical basis, the stock (IBM) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has recently broken through an important trendline at 145.06 suggesting the next support level is at 140.51. This weakness suggests the long-term trend is turning neutral.
The stock has support at 140.51 and 130.12. If the stock breaks down through support at 140.51 then it will probably continue lower to 130.12. The stock will meet resistance at 145.06 and 152.95. If the stock breaks up through resistance at 145.06 then it will probably continue higher to 152.95. The 200-day moving average is at 137.48. This will also act as support. The stock is neutral according to the Stochastic Indicator (39.80).”
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