International Business Machines Corporation (IBM) stock declined in its latest intraday trading, after hitting resistance at its previous 50-day SMA. The short-term corrective bearish trend remains in control, with trading moving along a downward slope line. Additional negative pressure is reinforced by bearish signals in the Stochastic indicators after reaching strongly overbought levels.

Therefore, we expect the stock to decline in its upcoming trading, as long as the resistance level of 265.80 holds, to then target the key support level of 238.25.

Todays price forecast: Bearish.