IBM, confirmation week on the sell signal
IBM gains 0.7% and forms a double bottom as the sell signal seeks confirmation
IBM, confirmation week on the sell signal
Our view last week
IBM just went through a brutal week: the stock sheds 26% and sinks below its weekly Ichimoku cloud, with sellers firmly in charge of the last bar. Only seven days ago the picture was the opposite, a fresh buy signal; now a new sell signal kicks in with signal strength maxed out, a decline already making lower lows. Earnings are due this week.
This week's summary
After last week's 26% plunge, IBM is stabilizing: the stock gains 0.7% and forms a double bottom in the 202 area, with an intermediate rebound of 10%. Buyers are back in control of daily volume and the RSI is nearing oversold, while the sell signal triggered seven days ago has yet to find confirmation.
Sell signal in observation
·2nd week from start
·US stocks
·T2
·📅 Earnings · Jul 22
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IQS Phase
71
in tension
Signal Strength
51
isolated weekly drop
Sizing
STANDARD
Ranking
#34 / 141
US stocks sell signals
Trade P&L %
-0.71%
from signal to today
Rank position
ranks 34th among the 141 sell signals for US stocks in our ranking, with a signal strength of 51 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly +0.17% · monthly -3.92%
IBM belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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