How the (IBM) price action is used to our Advantage

May 07, 2024, 20:00 pm ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for IBM

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short IBM slightly under 176.23, target n/a, stop loss @ 176.74 Details

The technical summary data is suggesting a short of IBM as it gets near 176.23, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 176.74. 176.23 is the first level of resistance above 168.24, and by rule, any test of resistance is a short signal. In this case, if resistance 176.23 is being tested, so a short signal would exist.

Swing Trading Plans for IBM

• Buy IBM slightly over 176.23, target 188.57, Stop Loss @ 175.72 Details

If 176.23 begins to break higher, the technical summary data tells us to buy IBM just slightly over 176.23, with an upside target of 188.57. The data also tells us to set a stop loss @ 175.72 in case the stock turns against the trade. 176.23 is the first level of resistance above 168.24, and by rule, any break above resistance is a buy signal. In this case, 176.23, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short IBM slightly near 176.23, target 166.84, Stop Loss @ 176.74. Details

The technical summary data is suggesting a short of IBM if it tests 176.23 with a downside target of 166.84. We should have a stop loss in place at 176.74 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 176.23, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for IBM

• Buy IBM slightly over 169.65, target 176.23, Stop Loss @ 169.25 Details

If 169.65 begins to break higher, the technical summary data tells us to buy IBM just slightly over 169.65, with an upside target of 176.23. The data also tells us to set a stop loss @ 169.25 in case the stock turns against the trade. 169.65 is the first level of resistance above 168.24, and by rule, any break above resistance is a buy signal. In this case, 169.65, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short IBM slightly near 169.65, target 167.65, Stop Loss @ 170.05. Details

The technical summary data is suggesting a short of IBM if it tests 169.65 with a downside target of 167.65. We should have a stop loss in place at 170.05 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 169.65, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  International Business Machines Corporation (IBM) available here: IBM.

IBM Ratings for May 07:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	176.23
P2	167.65	156.59	188.57
P3	169.65	166.84	201.74

AI Generated Signals for IBM

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  International Business Machines Corporation (NYSE: IBM) data table below can help you with price action, and we have more details too. Trading plans for IBM are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.