IBM Wave Analysis – 20 March 2025

- IBM reversed from support zone
- Likely to rise to resistance level 253.00

IBM recently reversed up from the support zone between the pivotal support level 240.00 (former multi-month high from December), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from this support zone will likely form the daily Japanese candlesticks reversal pattern Long-legged Doji – strong buy signal for IBM.

Given the clear daily uptrend, IBM can be expected to rise to the next resistance level 253.00 (which reversed the price twice earlier this month).