IBM possible breakout

IBM has been in a downtrend since march 2015 and has formed a downtrend price channel since April 2017.
Now the price is testing the resistanceline at 147.40 and the next couple of days will show if we have a bullish breakout or IBM will fall back into the existing price channel and go down to area 132.

IBM possible breakout


MA200 is above the price on the daily chart, but MA50 is below. Both MACD Signal line and 0 cross line indicate buy and the same for Wil%R on the daily chart.
With all that in mind, we have 2 possible senarios, a bullish and a bearish.

For the bullish senario to take effect, we would like to see the price do a breakout and test the resistanceline. Than we buy.
First profit target will be 149.50-150.00
Second profit target will be around 156-157

For the bearish senario to take effect, we would like to see the price go down the next few days and maybe retest the resistanceline, then we go short.
Possible profit area will be around 132.

Read about 3M possible breakout here
Good luck