IBM exposed to negative pressure - Analysis - 17-04-2019

IBM's skidded below the support of 138.54, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 171.13 to 105.94), coinciding with trespassing the support of the 50-day SMA, with negative signals from the RSI. 

Therefore we expect more losses as long as it settles below 138.54, targeting the support of 130.84, which represents the ratio 38.2% of the same retracement levels. 

Expected trend for today: Bearish