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IBM Wave Analysis – 14 May, 2019

IBM Wave Analysis – 14 May, 2019

  • IBM broke support zone
  • Likely to fall to 12.40

IBM today broke the support zone lying between the pivotal support level 14.35 (which has been reversing the price from March) and the 61.8% Fibonacci correction of the upward correction 2.

The breakout of this support zone is aligned with the active minor impulse wave (iii) of the long-term impulse waves 3 and (3).

IBM is likely to fall further toward the next strong support level 12.40 (low of the previous sharp impulse wave 1 from March).

IBM Wave Analysis – 14 May, 2019

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