Today’s instrument is the International Business Machines Corp.‘s stock traded on the Nasdaq exchange under the ticker IBM.
When we look at the IBM‘s chart, we can see a rise from the $126 range to the $129 on the 15th of April, its inability to consolidate, and the subsequent fall back to the same level, where it held strong above the support of $125 and enabled the yesterday’s climb back into the $129 range. It was last found trading at $129.21 with the closest temporary support at $130 and the closest support level at $125.
International Business Machines Corp. had scheduled a quarterly earnings announcement yesterday 19/04/2022. Earnings expectations were surpassed, and there was a mere 3% reaction intraday.
Today we can expect a move above the $130 closest resistance level, possibly in the $133 range.
If however, it doesn’t manage to hold on to the current level then a move towards the $126 closest support level can be expected.
(Click on image to enlarge)
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