Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
IBM's stock rose in the intraday levels, trespassing the resistance of the 50-day SMA and shaking off its negative pressure, scoring thereafter a profit of 0.99% in the last session, or 1.43 points, while trading alongside the main downward short-term trend line, with negative signals from the Relative Strength Index.
Therefore we expect the stock to return lower, especially if the support of 142.33 was breached, targeting the next one at 137.45.