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IBM Corp Daily (23.06.2014) Technical Analysis

NYSE:IBM   INTERNATIONAL BUSINESS MACHS
ibm
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ibm
The IBM             Corp (NYSE:IBM) Daily Diagram Technical Analysis shows the following:

The IBM             share has made a long term decline under the resistance of the trend line (red). This resistance line is under the KUMO, which means that the IBM             is bearish in long term. The weekly diagram shows bearish trend . The monthly is bearish too.

So the first think in mind is that the share will decline more. The stock in Friday close on its lower low almost. MACD is bearish and RSI too. The volume on Friday was double the usual.

We have no special candlestick pattern. The share is under the KUMO and the Kijun Sen (blue line) too. Last week it failed to get over the Tenkan Sen (green line).

There is no special pattern. The fib from $172.82 to $198.06 shows a 0.236 decline at $178.77 first target.

So I think that the share will decline more.
Have the same thoughts
IBM bounce off of trend line and 200 EMA
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