June 10 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) has officially broken out to fresh all-time highs — and when that happens, it's a signal every trader and investor should be paying attention to.
So now what?
With no prior price history above this level, traditional resistance zones are off the table. That’s why price action technical analysis becomes even more valuable — we’ll use proven techniques to map potential upside targets and identify key pullback levels where smart money may step back in.
Whether you're already long or looking for the next high-probability entry, this breakout deserves your attention. Let’s break it down on the chart.
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 500+ 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 price has broken above previous ATHs and is in what is called "price discovery mode."
That doesn't mean that we can't use Fibonacci, Support/Resistance, and Trend to identify potential targets or potential pull back levels.
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 break above a very long term trend line and previous resistance.
We can also see Fibonacci extension levels at $280.21, $292.64, and $330.62 as potential upside targets. (Not levels to short!)
If price fails on this breakout it may want to back test the trend line, the previous ATH level, or become a Failed Break Out and drop swiftly towards previous price structure.
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?
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.
Because You Were Interested in today's FREE Chart of the Day...
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