IBM closes within previous day's range
International Business Machines Corporation (IBM) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
IBM ended the week 1.98% higher at 148.33 after losing $0.62 (-0.42%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Daily Candlestick Chart (IBM as at Sep 14, 2018):
Friday's trading range was $1.52 (1.02%), that's slightly above last trading month's daily average range of $1.44. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 147.30. Unable to break through the key technical resistance level at 149.27, the market closed below it after spiking as high as 149.30 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Trading close to July's high at 150.54 we might see further upside momentum if potential buy stops at the level get triggered.