Annual Forecast for IBM – 2020

IBM stock (NYSE:IBM) is a bull market. The general market movement is currently bullish, but there is now a bearish retracement, which is not supposed to last long.

Since price broke above the upper Trendline in January 2020, bulls have been able to sustain the current upwards trend, which would be valid as long as price does not go below the upper Trendline again.

The RSI period 14 reached the overbought level and turned downwards, supporting the current bearish retracements. However, the bearish retracement cannot be a threat to the ongoing bullish outlook on the market, as long as the RSI period 14 does not slip into the oversold region.

The outlook on IBM remain bullish for this year and price is expected to recover the recent losses and move further higher.

Trading realities: Trading realities

Click Here to register for free on Investors Hub

Follow @ItuGlobal

This area of the investorshub.advfn.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of Investors Hub. Investors Hub does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at Investors Hub is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

Comments are closed

• 

  Elite Forex Training

• 

  John Anthony

• 

  Agora Financial

• 

  equityoptionsguru