IBM receives positive support - Analysis - 15-10-2021

IBM's stock rallied 1.87% in the last session after leaning on the support of the 50-day SMA, lending it positive momentum, amid the dominance of the upward trend in the medium term, while buoyed by positive technical pattern that formed in the short term, the Falling Wedge pattern, with positive signals from the RSI after reaching oversold levels.

Therefore we expect more gains for the stock, targeting the pivotal resistance of 152.70, provided the support of 137.13 holds on.

Expected trend for today: Bullish