23.01.2015 - IBM shares continue to fall

IBM's stock price is consolidating between the sloping line of resistance and strong support at 151.25. In case of breaking through the inclined resistance line and fixing the price above the level of 160.00, we expect the price growth with targets at 164.50 and 170.00. At the moment, the more likely is the reduction of prices and consolidation below the support at 151.25, which will lead to a further decline to 136.00 and 130.00. Our medium-term outlook is negative.

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