Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
IBM's skidded below the support of 138.54, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 171.13 to 105.94), coinciding with trespassing the support of the 50-day SMA, with negative signals from the RSI.
Therefore we expect more losses as long as it settles below 138.54, targeting the support of 130.84, which represents the ratio 38.2% of the same retracement levels.
Expected trend for today: Bearish