IBM ends cautiously higher - Analysis - 09-12-2019

Economies.com
2019-12-09 12:59PM UTC

IBM's stock closed 0.99% higher with positive signals from the RSI, while suffering pressure from the 50-day SMA, and settling below the resistance of 134.88, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term. 

 

Therefore we expect the stock to return lower, targeting the next support of 129.34, representing the ratio 50%. 

 

Expected trend for today: Bearish 

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