IBM declines in volatile session - Analysis - 01-06-2022

Economies.com
2022-06-01 13:48PM UTC

IBM's stock declined in the intraday levels on profit-taking on profit-taking while gathering momentum to rise anew, as it trades alongside the upward correctional short-term trend line, with support from the 50-day SMA, coupled with positive signals from the RSI, marking a loss of 0.31%, or 43 cents, and settling at 138.84, with trading volumes approaching 8 million shares, above 10-day averages of 5 million shares.

 

Therefore we expect the stock to return higher, targeting the pivotal resistance of 142.20.

 

Expected trend for today: Bullish

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