IBM shares (NYSE:IBM) are very weak. The weakness has been
going on for several months, and it would continue until there is a bullish
movement which lasts for at least, a few months.
The price is currently below the EMA 21 and the Williams’ %
Range period 20 is around the oversold region. This is a “sell’ signal. The price
might reach the demand levels at 120.00, 110.00 and 100.00 within the next
several months, and therefore, bullish attempts in this market ought to be
ignored.
IBM price should continue moving southward gradually and steadily.
Until the condition mentioned in the first paragraph above is met, long
positions should be disregarded.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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