Categories: Technical analysis

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).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: IBM

Recent Posts

Nasdaq-100 Wave Analysis 8 October 2024

- Nasdaq-100 reversed from support zone - Likely to rise to resistance level 20340.00 Nasdaq-100…

2 hours ago

Rising Treasury yields attract dollar interest

The Dollar Index has been rising since the end of September, tracking US long-term bond…

7 hours ago

Germany’s manufacturing rebound doesn’t change the gloomy picture

Germany's industrial production index jumped 2.9% in August, almost recovering from a similar drop in…

11 hours ago

Equity Weakness Dampens Crypto Investment Appetite

The crypto market rolled back 1.8% in 24 hours to $2.17 trillion due to a…

14 hours ago

Adobe Wave Analysis 7 October 2024

- Adobe broke round support level 500.00 - Likely to fall to support level 470.00…

1 day ago

WTI Wave Analysis 7 October 2024

- WTI under strong bullish pressure - Likely to rise to resistance level 78.3 WTI…

1 day ago

This website uses cookies