Although the British elections are around the corner (June 8th), it is worth noting that the cable has just bounced off its support at 1.2750 level and is trading now at 1.2865. the L1 & L2 level have indicated a positive reversal sign, giving additional support for the potential upside move. Target is at 1.3030, watch for a close below 1.2750.
WY, last closed at 33.55$, is offering a good upside potential: 1) Positive reversal in place at L1 & L2 levels indicating a hasty market to go up 2) Prices pulled back to support level at 33$ and it held above it 3) First target at 34.20$, if broken 35$ 4) Markets must not close below the 33$ level for 2 consecutive days in order to stay in the position
Well ,it all depends on the oil prices. But from what I see here it looks like an attractive buy level, as prices are finding support at around 107.5$ which coincide with the 200 EMA level. Next targets 109.70$, 114.30$, than the old high of 119$. A break below 107.50$, will lead to 104.30$ and invalidate the scenario.
With the down trend line broken, the EMA (50) crossing above EMA (200) and the clearing of 2 major resistance levels at 173$ and 176$ respectively, the conditions are very much in favor of more upside gains for IBM. Buying here @ 177.24$ with a stop 175.5$ first target 182.80$ if cleared on the medium run we could reach 191$ even 195$.
Although the company is facing a Class Action Lawsuit for not complying with either U.S. tax law or U.S. financial reporting rules, with the intention of maintaining a higher share price. The stocks looks appealing from a chart point of view as the recent dip to 90.60$ seems corrective, in the newly established up trend that dates back to March 2016. The ultimate ...