Annual Forecast for IBM (2022)

PUBLISHED: 02 Feb 2022 @ 20:32 | Comments (0) | More info about Azeez Mustapha

IBM shares (NYSE:IBM) recently experienced a massive pullback and then recovered from that. The recovery has, at least, made the current “buy” signal intact.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. About one week ago, the market plunged below all the EMAs, but it has bounced above all of them.

It is expected that bulls would continue to endeavor to push up the price from here, and that is something that will potentially result in a stronger bullish signal. As long as price is above the EMAs 200 and 50, the bullish bias would be intact.

It is more probable for IBM to go northwards this year, rather than going southwards, and price could eventually reach the resistance lines at 140.00, 150.00 and 160.00 before the end of this year.

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