Annual Trading Forecast on IBM (2016)

IBM shares (NYSE:IBM) are very weak. The weakness has been going on for several months, and it would continue until there is a bullish movement which lasts for at least, a few months.

The price is currently below the EMA 21 and the Williams’ % Range period 20 is around the oversold region. This is a “sell’ signal. The price might reach the demand levels at 120.00, 110.00 and 100.00 within the next several months, and therefore, bullish attempts in this market ought to be ignored.

IBM price should continue moving southward gradually and steadily. Until the condition mentioned in the first paragraph above is met, long positions should be disregarded.

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