IBM shares price in clear up trend

IBM share price is in a rising trend since December 2008, evolving in a rising channel between T1 and T2 lines.

The first support zone is between $186.60 and 188.25 levels, followed by $177.20 support. Until these supports will be broken there is no sign of reversal.

The closest target/resistance is set by T2 trend line, somewhere in the $200.00 area.

DJIA Technical Analysis 2012.01.27

DJI Index traded yesterday in the resistance area set by May and July 2011 highs (12,752-12,880) and formed a spinning top candle, preventing though the bulls of a possible reversal.

The main aspect to watch now in case of a decline is the trend line T1 and an eventual break below it will set the market for further decline.

BRD Technical Analysis 2012.01.27

BRD shares reached the first resistance at 11.00 RON in yesterday’s session, after a consolidation period above the 10.50 RON support level.

The buy signal gave a couple of weeks ago (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-brd-20120112.html) is still active and, as expected, the retest of T1 was produced.

The classic target is set in the 12.00 RON and both technical and fundamental analysis are in favor of a bullish move.  

Banca Transilvania (TLV) Tehnical Analysis 2012.01.27

The buy signal for TLV shares on 17^th of January (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-banca-transilvania-tlv_17.html ) has now a profit of about 5.1% and reached the 0.9590 RON target.

The good support zone in the 0.8710-0.9000 RON and the rising potential of TLV shares could bring prices towards the 1.0500 RON target in a matter of weeks. Therefore, the buy signal gave a couple of weeks ago is still active.  

OMV Petrom (SNP) Technical Analysis 2012.01.27

OMV Petrom share price reached in the last session the target zone set in Monday analysis (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-omv-petrom-snp-20120123.html).

The price can encounter a bear pressure at this level but, due to the strong sentiment and rising potential, the upper limit of the resistance zone (0.3400 RON) is now in focus.

SIF Muntenia (SIF4) Technical Analysis 2012.01.27

SIF Muntenia (SIF4) share price reached the TARGET zone set in one of the previous analysis (http://markettechnicalview.blogspot.com/2012/01/analiza-tehnica-sif-muntenia-sif4.html ).

The current resistance zone, between the 0.6150 and 0.6400 RON levels could be a reason for some profit taking and therefore, a sell signal (at least part of positions) is given.

The rising trend could go on in the next weeks but, for confirmation, a break of current resistance should occur. 

Alcoa share price seems cheap for how the market looks like

Alcoa share price rose in the past few sessions and broke the T1 trend line, signaling though a bullish move towards the $11.20-$11.60 target area.

The previous analysis (http://markettechnicalview.blogspot.com/2012/01/alcoa-is-on-watch-list-20120116.html) signaled a good possibility for the shares to appreciate and now, technically speaking, the scenario is confirmed.

The bigger picture shows that the market could reach as high as $14.00/share in a matter of months. In order to get confirmation for this scenario the share price should break the first main resistance.