IBM has gapped up since yesterdays open. Looking at prior earning reports the stock does provide us with the volatility we need to profit off this earning. The RVI is backing this idea with the breakout in the trend. However, the RSI is showing this stock could potentially be overbought and a short-term sell off could occur. Also, the 50 MA is providing the support for the stock. Potentially, a short and long hedge could be played here.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.