Annual Trading Forecast on IBM (2013)

PUBLISHED: Feb 19 2013 @ 04:15 | Comments (0) | More info about Azeez Mustapha

What would be the major bias on IBM (NYSE:IBM) for this year? The answer is given in the analysis below. The market, in recent months, has found it difficult to trend significantly upwards. And right now, it has assumed a bearish bias, following a gap-up that occurred in the month of January 2013.

There is a tendency for the market to trend downwards this year. Monitoring the precise trading recommendation, a conspicuous increase in momentum usually leads to more market pressure as equilibrium phases are rendered ineffectual. On the chart, the 2 Trendlines are sloping downwards in a bearish channel, while the RSI period 14 is clearly below the level 50. Yes, any bullish attempts have already been gotten rid of: the placenta is gotten rid of the day it comes out. As long as the price is not able to break the upper Trendline to the upside and close above it and then trend further upwards, the current bias would be valid. The price could reach the accumulation level at 190.00 this year.

This article is ended with the quote below:

“…There is no Holy Grail and even the best and most profitable traders experience high and low phases. In difficult periods of time, it is important that the trader has a plan and knows.” – Markus Strauch

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