Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Tuesday, February 14, 2012

IBM share price ready for a new move

IBM share price reached the highs of December ($194.90) a couple of weeks ago and is trading in a narrow range, between $191.40 and $194.90 levels.

The volumes descended in the month of February, reflecting the short term consolidation period. The longer term perspective (http://markettechnicalview.blogspot.com/2012/01/ibm-shares-price-in-clear-up-trend.html) shows a clear bullish channel where the borders are acting as support and resistance.

If the prices will break below the $190.00-$194.90 support area without breaking the $194.90 resistance before (showing bulls failure), the market has a clear path towards the T1 trend line and $177.34 support.


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