International Business Machines ( IBM) is scheduled to report their latest quarterly numbers to shareholders and analysts after the close of trading Monday. What do the charts and indicators look like? Let’s check.
In this daily bar chart of IBM, below, we can see that prices have been trading higher from November. Prices are currently above the rising 50-day moving average line and above the rising 200-day line. The daily On-Balance-Volume (OBV) line shows improvement from March. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line.
In this weekly Japanese candlestick chart of IBM, below, we see a mixed picture. Recent lower shadows suggest that prices can rally. The weekly OBV line however shows a decline in recent months suggesting that sellers of IBM have been more aggressive. Lastly, the MACD oscillator is in a bullish alignment above the zero line.
In this daily Point and Figure chart of IBM, below, we can see an upside price target in the $183 area.
In this weekly Point and Figure chart of IBM, below, we see an upside price target in the $173 area.
Bottom line strategy: I have no special knowledge of what IBM will report to stockholders after the close of trading Monday. Continue to hold longs from previous recommendations. Our price targets are in the $173-$183 area.
