slip_stream

IBM in bearish pattern

Short
NYSE:IBM   INTERNATIONAL BUS MACH CORP
Further decrease of price into the falling channel and a breakdown price below the lower channel trend line will signify a bearish pattern . Best to await confirmation if the price goes into the falling channel .

Recent quarterly results have been very bad - missed target by 26%, declining revenue and no forward guidance provided either.

No potential of DMA support as price is now substantially below the major 3.

Hammer doji , which was within the downward channel did provide a price increase above the channel but failed to ignite a recovery: the increase was small, not backed up by a major volume increase and was followed the next day by a decrease back to the upper channel.

RSI is over sold.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out