IBM pares losses - Analysis - 12-01-2021

IBM's stock tumbled 1.60% in the last session after paring off losses from a session low at 132.79, settling at 132.87, with support from the 50-day SMA, countered by trading alongside the downward short-term trend line, with negative signals from the RSI.

Therefore we expect the stock to rise and target  the resistance of 140.40, provided the support of 127.20 holds on.

Expected trend for today: Bullish