IBM Wave Analysis 30 January 2025

- IBM opened with a sharp upward gap
- Likely to rise to the resistance level 260.00

IBM today opened with the sharp upward gap which broke the resistance zone between the resistance level 239.00 (top of wave 3 from December) and the resistance trendline of the two up channels from November of 2024 and May of 2023.

The breakout of this resistance zone continues the active minor impulse wave 5 of the higher impulse wave (5) from last May.

IBM can be expected to rise further to the next resistance level 260.00 (the target price for the completion of the active impulse wave (5)).