IBM amid negative outlook - Analysis - 27-04-2017

IBM's stock fell in the intraday levels, registering a fresh loss of 0.21% in the last session, or 0.33 points, as the stock gets hurt by piercing the main upward trend previously in the short term as shown in the attached chart, with ongoing negative pressure from the SMA for the last 50 days period, coupled with an influx of negative signals from relative power indicators. 

Therefore we expect more losses to come for the stock, as long as the resistance of 165.80 holds on, targeting the support of 155.93.