Sell #IBM within 141.33-139.54 | 22 February 2019

 #IBM,weekly

Sell #IBM within 141.33-139.54

Technical observation

#IBM shares are trading below a resistance zone 141.33-139.54 and I expect a bounce within it for possible bearish momentum towards 109.78.You can sell this commodity within the above mentioned zone after a rejection with your take profit at 109.78 and stop loss at 149.23.Should there be a clear penetration above 141.33-139.54 bullish movements towards 172.59 can be anticipated, you can wait for a pullback to the just broken zone and a bounce within it to buy #IBM shares with your take profit at 172.59 and stop loss at 129.65 but as long as it is contained below 141.33-139.54, only short positions can be advisable.

Trade recommendation

Sell #IBM within 141.33-139.54 with your take profit at 109.78 and stop loss at 149.23.

#GazpromNef, weekly

Sell #IBM within 141.33-139.54

Technical observation

The commodity on the chart above is trading above a key supportive zone 317.35-312.01, my expectation is a decline to the zone and a rejection within it for possible upwards momentum towards 389.53.Remain flat temporarily and wait for the correction to 317.35-312.01 and a rejection to buy GazpromNef with your take profit at 389.53 and stop loss at 286.64.In case this commodity is not contained above 317.35-312.01 and instead penetrates below it, wait for a correction to the just broken zone and a bounce within to confirm the breakout below the zone is not false before you pick short positions towards 240.64.

Trade recommendation

Remain flat temporarily.

#AIG, weekly

Sell #IBM within 141.33-139.54

Technical observation

#AIG shares are trading below a resistance zone 48.82-47.87 and as long as they’re contained below it only short positions can be expected. Wait for a correction to the zone and a rejection within it to sell #AIG shares with your take profit at 37.17 and stop loss at 51.66.If there is a break below 37.17 with a big red candle, wait for a correction to it confirming further bearish momentum before you continue short with this commodity. On the weekly chart above, long positions may only be recommended in case of a clear breach above 48.82-47.87 with a big green candle followed by a correction to the just broken zone and a bounce within it.

Trade recommendation

Wait for a correction to 48.82-47.87 to sell #AIG.

Imelda Maseno
Analyst of «FreshForex» company
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