IBM testing resistance

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International Business Machines (IBM) testing long-term channel resistance, able to absorb monthly buying pressures.

From here, (IBM) can fall lower to channel support, eliciting losses of 5-10% over the following 1-2 months.

A settlement below this channel support would lead to significant losses through 2024.

Inversely, a weekly settlement above channel resistance would push (IBM) to our next notable level of resistance.

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