IBM: ⬇️ Sell

– IBM reversed from resistance level 253.60

– Likely to fall to support level 230.00

IBM recently reversed from the resistance level 253.60 (former support from the start of July) and the 50% Fibonacci correction of the upward impulse from April.

The downward reversal from the resistance level 253.60 continued the active impulse wave C of the ABC correction (2) from June.

IBM can be expected to fall further to the next support level 230.00 (target price for the completion of the active impulse wave C).