Technical Analysis: IBM,Amazon And Western Digital

Technical Analysis of IBM Stock

IBM (NYSE:IBM) stock price has been consistently hitting the 20 day moving average resistance line since November 14th 2014. The price has tested the moving average on many occasions, breaching  it on a few occasion, but falling back below 20 day moving average line as it was unable to sustain the momentum. IBM stock is again poised to test the 20 day moving average line. The MACD indicator is sending a bearish signal. The signal line is above the MACD line, indicating that the stock price will not be able to break the 20 day moving average resistance line again.
IBM Technical chart

IBM Technical Analysis Chart by amigobulls.com

Amazon Stock Technical Analysis

Amazon (NASDAQ:AMZN) stock price is testing the 50 day moving average. The stock has made a minor breach in 50 day moving average resistance line on January 23rd before falling back to below the 50 day resistance line on 26th January. The 50 day moving average line has previously acted as a resistance line and the widening of the divergence between MACD line and signal line indicates that it is likely to do so again.
AMZN Technical chart

Amazon Technical Analysis Chart by amigobulls.com

Western Digital Stock Technical Analysis

Western digital (NASDAQ:WDC) stock price is testing the 100 day moving average line. The stock price has declined from $114.28 to $100.98. The stock price has remained above the 100 day moving average since October 30th. The MACD divergence has increased indicating that price is likely to bounce back. However the major movement in the price will be driven by the company’s earnings report.
WDC Technical chart

Western Digital Technical Analysis Chart by amigobulls.com

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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