Categories: Technical analysis

IBM Wave Analysis – 25 February 2025

– IBM reversed from resistance level 264.40

– Likely to fall to support level 247.25

IBM recently reversed down exactly from the strong resistance level 264.40 (top of the previous impulse wave iii from the start of February).

The downward reversal from the resistance level 264.40 started the active short-term correction ii, which belongs to wave 3 from the start of January.

Given the strength of the resistance level 264.40 and the overbought daily Stochastic, IBM can be expected to fall to the next support level 247.25 (low of the previous correction iv).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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