Today’s instrument is International Business Machines stock traded on NYSE under the ticker IBM.
Looking at IBM’s chart, we can see that it is traded close to its 52W high at the current price of $140.56.
Today, if it manages to break through its resistance level at around $142, we could expect it to re-test its 52W high at around $146 otherwise it should fall towards its next support level at about $136.
(Click on image to enlarge)
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