IBM and LinkedIn are included in my technical bullish setups list as posted in my daily US strategy newsletter for subscribers. IBM is in a promising downward sloping wedge that if broken upwards we could see a strong move towards 190$ or even higher. LinkedIn on the other hand, has broken short-term sideways consolidation range and is now challenging important long-term resistance at 177-180$.
IBM price is holding above the 61.8% Fibonacci retracement and it is very possible to see an upward bounce from current levels. Breaking above the wedge boundaries at 184.50$ will give me a buy signal with 187-190$ as minimum target. The Ichimoku cloud is expected to be tested once we exit the wedge formation.
LNIKEDIN has also made a strong bounce off its 61.8% retracement but still below the Ichimoku cloud and challenging the blue downward sloping trend line.
In the 2hour chart as shown below, we observe the short-term upward break out by LinkedIn that could push the stock towards 185$ in the short-term. Trend is bullish in the short-term and I expect LinkedIn to challenge the intermediate bearish trend that started from 257$.
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