April 17 Chart of the Day - IBM
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
IBM (IBM) is making headlines this week with analysts buzzing about its upcoming earnings release on April 23. While we don’t engage in predictions or speculation, we do focus on what matters most—price action. So let’s dive into the charts and identify key technical levels that could shape IBM’s next move.
Since we last featured IBM on September 12, 2024, the stock climbed from around $211 to a high above $264 before pulling back to the $238 range. It’s been a strong bullish run with clear momentum.
Don’t you wish you followed us back then?
Let’s take a fresh look at the chart to see where price could be heading next.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 475+ Charts of the Day and provide FREE Price Action Trading education to traders who join our highly rated Trade Room.
Monthly Chart
On the monthly chart, we can see where price reached its all time high of $266.45 before pulling back sharply to the $215 area.
That retreat had both investors and traders closely watching key support levels, which have held for now, as price has quickly rebounded back to the $240 zone.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, we can see where price reached its all time high before dropping sharply over the past several weeks.
It moved through what many viewed as key support levels with surprising ease, but now it is charging back to the upside as investors look for a potential retest or even a push to new highs.
Why then when a company makes ATHs can price quickly drop back down?
For a variety of reasons including maybe this was a case of traders and investors taking some profits off the table.
Regardless, it's clear to see that for more than fifteen years price has been making a series of higher highs and higher lows /aka/ an uptrend.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined advanced Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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