International Business Machines Corp. (IBM) Technical Analysis

Today we'll analyze the Stock IBM for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 116.46$ (02/27/08) to 112.52$ (03/06/08) a 3.94$ move
2- The current bullish trend started from 112.52$ at 03/06/08 and is currently trading at 115.91$.

3- The stock current support level is at 114.95 which is the 61.80% fibonacci retracement of the last 3.94$ move.
4- The stock current resistance level is at 116.46 which is the 100.00% fibonacci retracement of the last 3.94$ move.
5- The Stock was supported by a support line, identified by two points: 112.52 and 105, and is currently supporting at 115.653.
6- According to ADX, the trend is currently bullish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.

Conclusion:
IBM is currently trading a bullish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 117.36, 117.53, 117.71, 116.46, 117.53, 118.89.
Support Levels: 115.65, 115.11, 114.95, 114.62, 114.49, 114.21, 114.03, 113.81, 113.45, 112.52, 112.52,.

IBM Technical Analysis

Today we'll be Analyzing the ibm (IBM) stock for online market trading.

few things to notice:
1- a support line was broken on November 2007, and has become a resistance.

2- stock is very close to fibonacci support level 99.56$ which is 28% retracement of the last bullish move.

the stock has no clear trend however a solid support at 99.56$ would take the stock to check resistance at 109$ with a target of 117$,
failure to supprot at 99.56$, would lead to 94.17$ and 88.78$.