IBM may rise to 207.30 - 211.00

Our pivot point is at 180.7.

Our preference

The upside prevails as long as 180.7 is support.

Alternative scenario

The downside breakout of 180.7 would call for 174.9 and 171.4.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 180.4955 and 174.0196). Finally, IBM is trading above its upper Bollinger band (standing at 191.32).

Supports and resistances

214.7 **

211 *

207.3 **

203.5

191.98 (USD-last)

183.1

180.7 **

174.9 *

171.4 **

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