International Business Machines (IBM) published preliminary results for Q2 2026. Calling the results a disappointment would be a serious understatement.

The company’s shares collapsed by nearly 20%, dragging down a large part of the technology sector as well.

IBM technical analysis (D1) (13.07.2026)

The sharp correction in IBM shares comes almost exactly at the moment when the EMA100 and EMA200 moving averages generated the so-called “golden cross,” a phenomenon that is relatively rare. Considering the Fibonacci ranges and significant price moves over recent months, the stock may finish the session below the 78.6% Fibonacci level (around USD 240). A much harder resistance level to break will be…