IBM stock
(NYSE:IBM) is currently in an uptrend. The recent bearish correction would turn
out to be an opportunity to buy long at better prices.
In January
2018, price jumped above the upper Trendline, going further upwards. However,
price suddenly experienced a shallow bearish correction, which would enable
bulls to enter the market at better prices.
As long as
price does not go below the lower Trendline, the bullish expectation on the
market would be valid. Although the RSI period 14 has been a kind of sloping
downwards, it has not gone below the level 50.
The bias
on IBM is bullish, and so is the outlook on it for the year 2018. The market
should be generally trend upwards this year.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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