IBM: ⬆️ Buy

– IBM reversed from support zone

– Likely to rise to resistance 295.40

IBM recently reversed up from the support zone between the support level 280.00, upper trendline of the recently broken weekly up channel from 2024 and the support trendline of the more recent up channel from April.

This support zone was further strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the sharp upward impulse from May.

Given the clear daily uptrend and the oversold daily Stochastic, IBM can be expected to rise further to the next resistance 295.40 (which stopped the previous waves 3 and (b)).