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IBM is Testing Major Support Level of the 18 Year Trend

Long
International Business Machines Corporation (NYSE:IBM)  
EmpowerTrader  
NYSE:IBM   International Business Machines Corporation
Trend Analysis Harmonic Patterns Chart Patterns
4
7
trendanalysis harmonicpatterns chartpattern
Price is heading to final support level of the bullish channel, which spans all the way back to the year 2000. Today price fell by as much as 5%, as IBM Q3 report shows slowdown in revenue growth. With dividend yield at 4.3% and PE below 12, IBM looks more and more attractive as a long term investment. Nevertheless, price could fall further to the final support level, potentially to 130.00.

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