Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>IBM stock price is trading in a strong uptrend near $150.</a></li>
 <li><span>2</span> <a>Buyers have gained momentum and are trying to attain a breakout.</a></li>
</ul>
<p>International Business Machines Corporation (NYSE: IBM) share price delivers the buying momentum and is trading close to the round mark of $150. Moreover, the price action shows the V-shaped reversal from the 200-day EMA indicating buyers’ accumulation. Furthermore, the chart shows that the stock has retested the base near $135 near the 50% Fibonacci retracement zone and is pulled back decisively. However, the sellers tried their best to crash the lower trendline of the rising channel, but buyers attained their grip and a fake breakdown was witnessed in the past sessions.</p>
<p>International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other. The Software segment combines hybrid cloud platforms and software solutions to help clients become more data-driven, and automate, secure, and modernize their environments. The company was founded by Charles Ranlett Flint and Thomas J. Watson Sr. on June 16, 1911, and is headquartered in Armonk, NY.</p>
<p>IBM stock price is trading close to the 52-week high and is in an uptrend showing the bulls’ dominance for the past sessions. Additionally, the Q3 earnings results give bulls an extra pace to fly toward the blue sky zone above $154. Furthermore, the sellers are trapped and are covering their short positions, which gives a strong conviction that the stock will soon skyrocket.</p>
<h2 class="wp-block-heading" id="strong-will-ibm-ready-to-catch-fireworks-above-150-strong"><strong>Will IBM Ready To Catch Fireworks Above $150?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/Bdr4LS8MgPA-1RQWlrxP4yBdVEs4PgH-CulLe4fOJJufPocQNgo4CPmP0CQE86pYqn1H8Q9fpOu-gZ41PwgFKqXxhR4UU1T6SRHSnuyyAV6MD_jyuaeusi7Y3XqZ6Lp4QkG2WJnrvCwXUYxqXqqvYDo" alt="IBM Stock Close To 52-Week Highs, Will Bulls Shoot Above $153?">
  <figcaption class="wp-element-caption">
   Source: IBM Stock/NYSE By TradingView
  </figcaption>
 </figure>
</div>
<p>On the daily charts, IBM stock price re-entered the channel and noted a fake breakdown near $135 which trapped sellers. Buyers’ accumulation was witnessed in the past sessions. Furthermore, the buyers have regained their momentum and looked confident. The technicals are suggesting that IBM stock is ready to outperform and will sharply shoot beyond $150 soon.</p>
<p>At press time, IBM <a href="https://www.thecoinrepublic.com/2023/10/26/ibm-stock-price-analysis-will-ibm-stock-break-the-200-day-ema/" rel="noopener noreferrer nofollow">stock price</a> is trading at $149.02 with an intraday gain of 1.64% showing neutrality on the charts. Moreover, the trading volume increased by 0.67% to 3.18 Million. However, analysts have maintained a neutral rating with a yearly target price of $147.21</p>
<p>IBM stock price is trading above the significant moving averages, made a doji candlestick at the 20-day EMA, and formed a strong bullish candlestick in the intraday session. Moreover, the stock showed rejection during the retracement and came back sharply.&nbsp;</p>
<p>The RSI curve stayed in the overbought zone and showed a positive crossover indicating the buyers’ strength on the charts.</p>
<p>The MACD indicator showed a bullish crossover and formed green bars on the histogram suggesting a positive outlook for the upcoming sessions.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>IBM stock price is trading above the significant moving averages and shows bulls’ dominance on the charts. Moreover, the stock has done the retracement and is ready to exceed the 52-week high mark of $153.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $145 and $140</p>
<p>Resistance Levels: $150 and $155</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

IBM Stock Close To 52-Week Highs, Will Bulls Shoot Above $153?

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