Get ready. . .
The stock bottomed out near $150 on May 10 but has failed to gain ground in the past two months, despite a historic tech rally that has lifted many components to all-time highs. IBM stock has also failed to trade back into the broken 200-day exponential moving average (EMA), a major line-in-the-sand between bull and bear markets. This limp action tells observant market players to expect a weak quarter and lower prices when the company reports second quarter results on July 18.
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IBM has failed to find new ways to grow in the current bull market cycle and is underperforming other high-technology components. Long-term technical deterioration has now entered its sixth year and could accelerate when benchmarks finally signal the top of this bull market cycle.
http://www.investopedia.com/news/ibm-buyers-strike-predicts-rough-quarter-ibm/