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