The Broadening Formation is just one piece of the puzzle. See the full technical breakdown.
Expanding volatility. Sign of instability.
Gradual reversal from bearish to bullish.
Reversal pattern after a downtrend.
Market participants tracking IBM should note the latest formation. With a last close of $249.1, volatility remains active (-5.05%). Algorithmically, a Double Bottom structure has completed. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $332.46, targeting $452.58 with support near $272.4 (R:R 2.0).
What is your outlook on IBM?