IBM tries to recoup some losses - Analysis - 23-10-2020

IBM's stock rose 0.61% in the last session off the pivotal support of 115.29, while trying to recoup some past losses and vent off oversold saturation in the RSI, while trading alongside the downward medium-term trend line, with negative pressure from the 50-day SMA. 

Therefore we expect the stock to decline and target the support of 104.90, provided the support of 115.29 was breached. 

Expected trend for today: Bearish