IBM Wave Analysis – 15 December, 2022

• IBM reversed from major long-term resistance level

• Likely to fall to support level 143.00

IBM under the bearish pressure after the price reversed down from the major long-term resistance level 152.50 (which has been reversing the price from the end of 2018) coinciding with the upper weekly Bollinger Band.

The downward reversal from the resistance level 152.50 stopped the previous weekly upward impulse wave C.

IBM can be expected to fall further toward the next support level 143.00 (former resistance from July).