IBM rises modestly - Analysis - 15-12-2017

IBM's stock returned higher in the intraday levels, scoring a profit of 0.06% in the last session, or 0.09 points, while trading alongside the upward correctional short-term trend line, with positive support from the 50-day SMA. 

Therefore we expect more gains for the stock, provided it pierces the resistance of 155.81, which represents the ratio 38.2% of Fibonacci retracement levels for a descending wave in the short term (from 182.79 to 139.13), targeting the next resistance at 160.96, which represents the ratio 50%.