IBM gathers positive momentum - Analysis - 29-07-2019

IBM's stock moved in a tight range while gathering momentum to help it rise anew and vent off overbought saturation in the RSI after reaching overbought levels, amid the dominance of the main upward trend in the medium and short terms, with positive support from the 50-day SMA. 

Therefore we reaffirm our positive outlook for the stock, provided the support of 137.75 holds on, targeting the resistance of 145.35. 

Expected trend for today: Bullish