IBM driven lower by important resistance - Analysis - 16-12-2021

IBM's stock declined 0.53% in the last session after the resistance of 124.69 held on, amid the dominance of the downward trend in the medium term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, settling thereafter at 123.11.

Therefore we expect more losses for the stock, targeting the first support at 119.85, provided the resistance of 124.69 holds on.

Expected trend for today: Bearish