IBM moves in negative zone - Analysis - 19-11-2019

IBM's stock fell marginally with positive signals from the RSI, while settling below the resistance of 134.89, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 105.88 to 152.749), with negative pressure from the 50-day SMA. 

Therefore we expect the stock to decline and target the next support at 129.33. 

Expected trend for today: Bearish