IBM shares (NYSE:IBM) are not an attractive market at all, as price is currently going downwards. Since bulls have long been overpowered here, a serious downtrend is about to resume.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200.
The color that stands for each EMA is shown at the top left part of the chart. All
the EMAs are now beginning to slope downwards. Price is under them.
The outlook on IBM is dismal this year, and price is expected to reach
the demand zones at 110.00, 100.00 and 90.00. Then, the 4 EMAs would be
trending seriously downwards by then. Buyers have no chance in this market, but
sellers will smile this year.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
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