IBM breaches negative pattern's support - Analysis - 11-10-2018

IBM's stock breached the support of a negative pattern that formed in the short term, the Rising Wedge pattern, while also breaching the support of the 50-day SMA, doubling pressures, and recording a final loss of 3.09%, or 4.55 points. 

Therefore we expect more losses for the stock, as long as the resistance of 147.52 holds on, targeting the pivotal support of 137.45. 

Expected trend for today: Bearish