August 14 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.

While the broader market celebrates fresh record highs, IBM finds itself moving in the opposite direction.

The stock has been plummeting, a stark divergence that demands attention.

From a price action perspective, this type of disconnect can signal either deep trouble ahead or the makings of a contrarian opportunity depending on how the next key levels play out.

We'll review the chart from a price action perspective to identify potential levels of interest in both directions.

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 575+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.

Monthly Chart 

On the monthly chart we can see that after setting its $296.16 all time high a couple of months ago price has quickly retreated back down towards previous structure.

With price currently in the $237 area some may call this a "false break out" of its previous $265.72 high and we would agree with that price action characterization of the recent price movement.

With plenty of volatility traders have had much to be happy with while investors seemingly have been disappointed.

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 with much more clarity the overall selling pressure after establishing its new high.

Seemingly, price may have a decision to make in this zone as it once served as resistance and may now turn into support.

That's not to say that price will continue back to fresh highs anytime soon but maybe, just maybe price can pause in this area.

Technically speaking, it wouldn't be surprising to see price ease back up to the $250 area before making a more permanent trend decision.

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 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? 

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