On the hourly the price which is still recording positive price action following the long term uptrend, popped out a bearish alert with EMAs testing each other.
On Watch for a possible deeper pullback
Rising Wedges are Bearish but are not valid until the bottom line is clearly broken.
A level of support will usually catch price if it/when breaks down. This wedge is accompanied by several indecisive candles at resistance.
Both lines slope up and narrow at the apex.
Sometimes price will break up from a Rising Wedge, but eventually price will break the bottom...
International Business Machines (IBM) testing long-term channel resistance, able to absorb monthly buying pressures.
From here, (IBM) can fall lower to channel support, eliciting losses of 5-10% over the following 1-2 months.
A settlement below this channel support would lead to significant losses through 2024.
Inversely, a weekly settlement above channel...
Sell $150 call Buy $160 Call
Pro: Strong Line of resistance at $150, S&P trading high
Cons: Upwards Trend line since May, should reach at $150, suspect trend line will disappear once hits resistance.
Note: Stop loss at $155
📈📊 #ChartPattern Alert! 📈📊
📈 Rising Wedge 📈
📈 What is a Rising Wedge? The Rising Wedge is a bearish chart pattern characterized by two converging trendlines, with the lower trendline sloping upward more than the upper trendline. It typically signals a potential bearish reversal, with the price likely to break downward after the wedge pattern.
📈 How to...
New bearish alert for NYSE:IBM on the hourly chart.
Our EMAs are having a test right now.
Price action will record a new low below $142.20 together with a bearish crossover.
AI? Pfft, please. Quantum computing is where its at.
The AI generation is here. Stocks are pumping because of it, people are crazed because of it and its going to “revolutionize” the world as we know it.
How precisely it will change the world, well I could fathom some guesses. But the question is how will it change trading? And the answer, which is entirely...
The PEAD projected a bullish outlook for NYSE:IBM after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
If you haven`t sold IBM here:
Then analyzing the options chain of IBM International Business Machines Corporation prior to the earnings report this week,
I would consider purchasing the 135usd strike price Puts with
an expiration date of 10/20/2023,
for a premium of approximately $4.90.
If these options prove to be profitable prior to the earnings release, I...
IBM is still processing wave b in red – the second step of a three part downwards movement, which should soon lead to the low of wave B in turquoise. As soon as wave B in turquoise is complete, the share should turn upwards to climb above the resistance at $139.47. There, IBM should conclude wave 2 in green before a significant downwards movement should take hold....
I inadvertently stumbled upon the chart of IBM last night and I was intrigued with the pattern that has developed over the past thirty plus years since 1999 (the dot.com crisis).
Economists and market analysts have been talking about the US economy undergoing a recession of late because of the interest rate hike and the sticky inflation, with the US stock...
This pattern is called bearish as it looks like a crooked W and the 1st leg is down.
The 4th leg is an up leg and terminates near the .786.
It is only bearish if you get stuck at the top of that 4th leg since this pattern reverses there.
There is money to be made or a long if you catch a bearish harmonic pattern close to the bottom of the 3rd leg. Valley 2 is...
IBM is setting up for a continuation of the overall annual trend of the 3 month chart where it looks like IBM will hit close to $200 in the months and years ahead
We have Bullish Divergence, market exhaustion on the annual time frame along with over sold indicators indicating bulls returning to the market.
IBM correcting from the downside and has begun to continue it's annual bullish trend.
Bullish Divergence on the 3Month chart indicating a huge bullish movement above $200 in the coming months ahead.
Oversold and market exhaustion on the downside showing bears are loosing momentum and bulls are entering the market
IBM is holding above 2 VWAP Anhor Weekly Levels
This has huge a move to the upside to 140 and near 150.
This is an AI and Quantum Computer Sentiment Play
I like this for a move to the Upside + 6 Weeks
Analyzing the options chain of IBM International Business Machines Corporation prior to the earnings report this week, I would consider purchasing
Puts with a 120usd strike price and an expiration date of 2024-1-19, for a premium of approximately $6.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
I am...
