IBM may rise to 183.80 - 186.50

Our pivot point stands at 170.6.

Our preference

The upside prevails as long as 170.6 is support.

Alternative scenario

Below 170.6, expect 166.3 and 163.7.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 171.955 and 169.9098).

Supports and resistances

189.1 **

186.5 *

183.8 **

181.2

176.02 (USD-last)

172.2

170.6 **

166.3 *

163.7 **

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