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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.
The stock has support at 141.81 and 130.96. If the stock breaks down through support at 141.81 then it will probably continue lower to 130.96. The stock has resistance at 145.46 and at 152.95. If the stock breaks up through resistance at 145.46 then it will probably continue higher to 152.95. The 200-day moving average is at 135.88. This will also act as support. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 141.81 look for a rally to previous highs. The stock is extremely overbought according to the Stochastic Indicator (80.62).”
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