Saturday, January 20, 2018

Annual Forecast for IBM (2018)

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

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