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.