International Business Machines Corporations stock price (IBM) rose in the intraday levels amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
Therefore we expect the stock to return lower, targeting the support of $157.90, provided the resistance of $175.46 holds on.
Forecast today: Likely Bearish