IBM Wave Analysis 8 October 2024

• IBM broke resistance zone
• Likely to rise to resistance level 240.00

IBM continues to rise strongly after the earlier breakout of resistance zone located between the resistance level 220.00 and the resistance trendline of the wide weekly up channel from 2023.

The breakout of this resistance zone accelerated the active impulse waves 5 and (3).

Given the clear daily uptrend, IBM can be expected to rise further to the next resistance level 240.00, high target for the completion of the active impulse waves 5 and (3).