Nasdaq futures are up 0.22% while S&P 500 futures have gained 0.19%. That supportive tape is giving IBM room to extend its recent rebound attempt after a choppy few months.Other Key UpdatesIBM recently launched Project Lightwell with Red Hat, a $5 billion initiative aimed at strengthening open-source software security through AI-powered vulnerability detection and a global team of more than 20,000 engineers.Separately, IBM announced plans to invest more than $10 billion in quantum computing over the next five years, supporting its goal of delivering a large-scale fault-tolerant quantum computer by 2029 and expanding its global quantum ecosystem.IBM Technical Analysis: Momentum And Key Chart LevelsFrom a trend perspective, IBM is trading well above its key moving averages, sitting 19.3% above the 20-day SMA ($232.53) and 16.4% above the 50-day SMA ($238.30). It's also 2.6% above the 200-day SMA ($270.18), which keeps the longer-term trend constructive even after earlier weakness.The catch is the moving-average structure: the 20-day SMA is still below the 50-day SMA, and the 50-day SMA remains below the 200-day SMA (the death cross that formed in March). In plain terms, price is currently strong, but the longer-term "trend stack" hasn't fully repaired yet—so bulls typically want to see those averages start turning up and re-crossing over time.Momentum is improving on the MACD: it's above its signal line and the histogram is positive, which points to fading downside pressure versus the prior downswing. For non-technicians, MACD is a way to gauge whether momentum is strengthening or weakening, and being above the signal line generally suggests the near-term push is improving.