Indicators aligning, bullish momentum, will the earnings make it or break it?

IBM’s stock is well positioned for a pop higher if the company can impress the Street with its earnings tomorrow. Currently, the company’s shares are trading at around $184.61 and flat so far on the day. Looking at the chart based on the weekly interval, we can see that the trendline is clearly providing support here for the near term if the price were to pull back following the earnings outcome. The support along the trendline reads around $172 a share. The resistance going into tomorrow is last week’s high of $189.44, a move above here may create some momentum for an extension towards this year’s high of $201. $201 would imply an upside move of 9-10% from current levels, and a pullback towards the trendline would imply a fall of 6-7%. The technical indicators justify the bias towards the potential upside as the MACD is seen turning positive and the RSI reads 62. IBM is expected to report a quarterly EPS of $2.17 on revenue of $15.62bn.