[9] IBM, HIMS, PANW
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First of the week! Let’s review a few names:
International Business Machines Corporation (NYSE: IBM)
IBM formed a post-ER gap (PEG) here to the upside on Thursday and briefly broke above the pennant resistance above, but eventually closed back below it. Subsequently, it retested the 301.63 weekly level yesterday.
The daily stochastic formed a bullish crossover following Friday’s session, while the weekly stochastic is still resetting.
A breakout of the pennant consolidation should see continuation into the 2.168 Fib extension at 332.37. Otherwise, should IBM break below the 301.63 weekly level, it can pullback into pennant support.
Him & Hers Health, Inc. (NYSE: HIMS)
HIMS broke down from its descending support trendline as well as the 29 weekly level.
This increases the likelihood of a deeper pullback into the 2021 prior ATH at 25.40, which would be yet another retest of supply.
The levels below 25.40 are as indicated on my charts. Note that HIMS is far from its blue long-term support trendline as shown below:
Palo Alto Networks, Inc. (NASDAQ: PANW)
PANW is creating a series of rejections below monthly levels. Following Friday’s session, it closed just below the descending support trendline shown above, albeit above the 174.48-174.69 weekly imbalance, which was filled earlier this week.
Should this weekly zone hold, PANW can countertrend back into the 187.63 monthly level. Otherwise, should PANW break down, it will likely trend into the 1.618 Fib level at 159.91.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$IBM(IBM)$ $Hims & Hers Health Inc.(HIMS)$ $Palo Alto Networks(PANW)$ $Apple(AAPL)$ $Alphabet(GOOG)$
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