IBM is in the process of forming of a powerful daily candlesticks reversal pattern – Shooting Star standing fully outside of the upper daily Bollinger Band. The price is also forming the daily Torch Sell reversal signals –increasing the probability of further losses for IBM. Selected Alpha rates the cumulative strength of these candlestick signals at the 32.4 CandleScore points – making it the top reversal pattern in the making now. Other sell signals – bearish divergence on the daily RSI indicator and strongly overbought Stochastic at 93.07.
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