EmpowerTrader
Long

IBM is Testing Major Support Level of the 18 Year Trend

NYSE:IBM   INTERNATIONAL BUS MACH CORP
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.

Comments

Have you bought yet?
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@ecramer, Yes, bought at 128. Looking to sell above 140
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Haven't long yet. Looking to buy at 130
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Are you still long?
Thank You
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Hi guys we are at a critical point here.
I think if the 130 breaks we are headed to 118 - 122 range.
I could be wrong but looking at the sell off you never know.
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I thought we would be at 122 sometime in July....i still think we will get close, maybe its the 130 close.
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@stinkbug, 120 is entirely possible. But giving the upside in the chart, hard not to be interested
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