IBM Stock To Test Resistance?
2022.04.20 13:56
When we look at the International Business Machines (IBM) (NYSE:IBM) chart, we can see a rise from the $126 range to the $129 on the Apr. 15, its inability to consolidate, and the subsequent fall back to the same level, where it held strong above the support of $125 and enabled the yesterday’s climb back into the $129 range.
It was last found trading at $129.21, with the closest temporary support at $130 and the closest support level at $125. International Business Machines (NYSE:IBM) had scheduled a quarterly earnings announcement yesterday. Earnings expectations were surpassed, and there was a mere 3% reaction intraday.
Today we can expect a move above the $130 closest resistance level, possibly in the $133 range. If however, it doesn’t manage to hold on to the current level then a move towards the $126 closest support level can be expected.
IBM stock price chart.
