IBM on track to close a price gap - Analysis - 30-12-2021

IBM's stock rose 0.54% in the last session for the sixth straight session, closing at 133.35, with positive support from the 50-day SMA, while on track to close the falling price gap made during October 21, amid the dominance of the downward correctional trend in the short term, with negative signals from the RSI after reaching overbought levels.

Therefore we expect more gains for the stock, targeting the pivotal resistance of 140.50, provided the current resistance of 132.85 holds on.

Expected trend for today: Bullish