The Rectangle is just one piece of the puzzle. See the full technical breakdown.
Sideways movement between parallel supports.
Bearish continuation pattern.
Gradual reversal from bearish to bullish.
Bearish continuation if preceding move was down.
Market participants tracking IBM should note the latest formation. With a last close of $240.27, volatility remains active (1.03%). Price action has carved out a classic Bearish Flag. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $230.51, targeting $133.14 with support near $250.0 (R:R 5.0).
What is your outlook on IBM?