IBM tries to recoup losses - Analysis - 06-12-2021

Economies.com
2021-12-06 11:48AM UTC

IBM's stock rallied 1.66% in the last session in the intraday levels while recouping some past losses, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA after reaching overbought levels.

 

Therefore we expect the stock to return lower, targeting the support of 113.40, provided the resistance of 118.30 holds on.

 

Expected trend for today: Bearish

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