IBM Wave Analysis – 06 February, 2020

• IBM broke long-term resistance level 152.00
• Likely to rise to 160.00

IBM recently broke through the powerful long-term resistance level 152.00 (which stopped the earlier sharp upward impulse sequence (1) in August).

The breakout of the resistance level 152.00 accelerated the active short-term impulse wave 3 – which belongs to the medium-term impulse sequence (3) from the start of December.

IBM is likely to rise further toward the next round resistance level 160.00 (top of the previous impulse wave (i)).