W4DL
Short

IBM in a bearish rising wedge?

NYSE:IBM   INTERNATIONAL BUS MACH CORP
Looks like the IBM shows us a bearish rising wedge .
Definitely something to look out for, let's keep an eye on it if it works and if yes how much drop we could expect. For now I expect some pullback to a support at approximately 115$.
Since I'm still learning I'm not trading this.
If you feel the same give me some feedback I'm glad to hear from you guys!
Give a like if you feel I'm right.
Comment: Looks like it’s at the support of the wedge now, on the lower timeframe (15min) there are some very clear bearish candles (one gravestone doji).
Hope we can see some good combination of hanging at support and the candle body’s.
For now I’m hoping to see it break through the channel to the lower 115$ support zone I drawed. Would fit in the idea of the logical correction of this kind of wedge.
Comment: IBM is now outside the range, clearly some selling pressure but for now the bulls seems to keep buying this up.
Let’s see who loses this one
Comment: Here we can see that this support of the wedge was invalidated, but interesting enough we can see that the long resistance as seen on the first shared analysis above looks like its holding.
The wedge clearly did not workout like I thought it would but I think it was a good learning after all.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out