Price sits only 0.56% above the 200-SMA and well above the rising 50-SMA at 235.88, confirming a short-term uptrend attempting to align with the longer-term trend. RSI at 59.14 shows constructive momentum with room before overbought, while MACD at 6.49 over its 5.46 signal line keeps the momentum cross intact. The tight stack of price and 200-SMA, however, means this zone must hold to validate the long bias; failure here would flip the structure back to range.
Wednesday Playbook — Top 5 Setups
The day's five highest-conviction setups, ranked by technical inflection, profit-probability, and trade quality — 5 long, 0 short. Trade your plan and manage risk first. Also screened: $SLB, $NVDA, $QQQ, $LIN, $TSM, $COST.
5 of 5 plays
IBM is grinding higher just above its 200-SMA (248.66) with price at 250.04, a classic inflection where reclaimed long-term trend support is being retested as the launchpad for continuation.
EntryPreferred accumulation zone 248.70–250.50 on a hold of the 200-SMA; alternative trigger on a strong close back above 251.50 after any shallow dip.
TargetsFirst target 256.50 (prior swing resistance area) → Second target 262.00 (measured extension from 50-SMA base)
StopClosing break below 246.00 invalidates the reclaim of the 200-SMA and signals the inflection has failed, warranting exit.
Educational only. Not financial advice.