FX.co ★ IBM Stock Review on Point and Figure Chart

IBM stocks overcame the resistance level of 196.0 and gave a false signal for buying against the primary trend direction and resumed its downward movement.
The stocks are now in the descending channel, the main target for sellers is the support level of 193.2. After breaking through it, the level of 191.2 will be possible.
After breakout of 196.8 resistance level, you can sell the stocks as the primary tendency will be downward.
Axel levels for today:
If the price is above the pivot point, the asset is bullish.
If the price is below the pivot point, the asset is bearish.
Resistance 1: 196.96
Resistance 2: 198.85
Support 1: 192.80
Support 2: 191.07
We recommend today to sell IBM stocks after the support level of 193.2 is over passed.