IBM: ⬆️ Buy
– IBM reversed from support zone
– Likely to rise to resistance level 253.00
IBM recently reversed up from the support zone between the pivotal support level 240.00 (former multi-month high from December), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.
The upward reversal from this support zone will likely form the daily Japanese candlesticks reversal pattern Long-legged Doji – strong buy signal for IBM.
Given the clear daily uptrend, IBM can be expected to rise to the next resistance level 253.00 (which reversed the price twice earlier this month).
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