IBM may rise to 179.20 - 181.80

Our pivot point stands at 164.7.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 164.7 would call for 160.3 and 157.8.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the stock is trading above its 20 day moving average (168.642) but under its 50 day moving average (174.8166).

Supports and resistances

184.3 **

181.8 *

179.2 **

176.4

170.01 (USD-last)

166.4

164.7 **

160.3 *

157.8 **

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