IBM in bearish pattern

Further decrease of price into the falling channel and a breakdown price below the lower channel trend line will signify a bearish pattern . Best to await confirmation if the price goes into the falling channel .

Recent quarterly results have been very bad - missed target by 26%, declining revenue and no forward guidance provided either.

No potential of DMA support as price is now substantially below the major 3.

Hammer doji , which was within the downward channel did provide a price increase above the channel but failed to ignite a recovery: the increase was small, not backed up by a major volume increase and was followed the next day by a decrease back to the upper channel.

RSI is over sold.


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