IBM's stock kept falling in the short term, while settling below the resistance of 134.88, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 105.88 to 152.82), while hurt by piercing the upside trend line recently, with negative pressure from the 50-day SMA, as the RSI reached oversold levels. 

Therefore we expect more losses for the stock as long as it settles below 134.88, targeting the next support at 129.38, which represents the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bearish