OptionsPlay DailyPlay

The bearish DailyPlay we chose for Tuesday December 8th is International Business Machines (IBM). IBM is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 0.35% move higher but has failed to break above its $45 resistance level over the last 2 months.

International Business Machines’s 1m and 6m trends turned bearish on 10/20 and recently bounced lower off its $140 resistance level. With a technical score of 4 (out of 10), IBM looks positioned to continue this strong bearish trend lower.

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