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IBM Trading Analysis (04/07/2024)

04.07.2024

Market Review

The trend is descending. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

Sell at the beginning of the formation of the downward wave structure, when the wave A breaches the sloping channel of the ascending truncated structure.
Stop-loss at 178.40.
Price targets at 167.80 and 163.80.

#ibm #stock #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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