Annual Forecast for IBM – 2020
By
Azeez Mustapha
PUBLISHED:
16 Feb 2020 @ 19:34
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More info about Azeez Mustapha
IBM stock (NYSE:IBM) is a bull market. The general market movement is currently bullish, but there is now a bearish retracement, which is not supposed to last long.
Since price broke above the upper Trendline in January 2020, bulls have been able to sustain the current upwards trend, which would be valid as long as price does not go below the upper Trendline again.
The RSI period 14 reached the overbought level and turned downwards, supporting the current bearish retracements. However, the bearish retracement cannot be a threat to the ongoing bullish outlook on the market, as long as the RSI period 14 does not slip into the oversold region.
The outlook on IBM remain bullish for this year and price is expected to recover the recent losses and move further higher.
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