IBM Testing Rising Channel Support

IBM is trading inside a well-defined ascending channel on the daily timeframe, reflecting a steady medium-term uptrend.

Price has recently pulled back sharply toward the lower boundary of the channel (~270–275), which is a critical support zone. This area also aligns with prior structure support.

The current move is a decisive moment:
Either this becomes a bullish bounce from channel support, or a breakdown that shifts structure.

🟢 Bullish Scenario
• Strong reaction and daily close back above 280
• Holding the channel support
• Upside targets:
• 300
• 320
• 340 (upper channel zone)

This would confirm continuation of the primary uptrend.

✅ Long Stop Loss:
• Below 268
• Conservative SL: below 260 (clean breakdown level)

🔴 Bearish Scenario
• Daily close below 270
• Clear breakdown of ascending channel
• Downside targets:
• 255
• 240
• 225 (major structure support)

This would signal a structural trend shift.

✅ Short Stop Loss:
• Above 285
• Aggressive SL: above 292


Trading Notes (English)
• This is a high-probability reaction zone.
• Breakdown trades require confirmation.
• Watch volume behavior near 270 support.