Bullish Move in IBM followed earning Announcement
On January 21, 2020, IBM released it's earning per share (EPS) which was 4.71 that means it was greater than the previous earning which was 2.68 by almost 75%. This means IBM stock will be under high demand by investors and financial companies. Since earning is the only things that matter especially when it comes to the stock market as explained in my blog, and since IBM chart shows the following criteria :
- Strong support at 133.5
- Cup with handle pattern at this level.
- Increase in volume at the last week which will support breaking 144 resistance.
- Increase in MACD that confirms the Cup and handle pattern.
All the above facts increase the probability for this stock to go up and reach at least 200 $.
I recommend buying this stock and hold it for almost 6 months or to reach 200 $ since its profit will be significant.
Best wishes to you all.
- Strong support at 133.5
- Cup with handle pattern at this level.
- Increase in volume at the last week which will support breaking 144 resistance.
- Increase in MACD that confirms the Cup and handle pattern.
All the above facts increase the probability for this stock to go up and reach at least 200 $.
I recommend buying this stock and hold it for almost 6 months or to reach 200 $ since its profit will be significant.
Best wishes to you all.
Trade active:
IBM's stocks prove my idea was right especially after the good earning that the company has in its first quarter which was (EPS = 4.71). I strongly recommend holding any position bought based in the above idea and take profit at 200 $