IBM is beginning to break out on the weekly chart from a trend line that was acting as strong resistance for over 8 years.
Recently the company has unveiled the world's first 2nm chip and announced previously that it will begin focusing on Cloud and AI which will serve the company well as those are two large secular growth stories. Go Long IBM. Trades at 9.79 EV/EBITDA ratio, well run company financially with a long growth path ahead of it.
I expect IBM and INTC to be some of the main beneficiaries of the bill that just passed in the senate today that okayed $54 billion dollars for the Semiconductor Industry to focus production on American soil and improve research efforts. INTC and IBM have long been the American blue-chip players in the space and are currently collaborating in advanced semiconductor research. This is a timely partnership as INTC is building two new fabs in Arizona and IBM just released its 2nm chip but does not manufacture its own chips (ahem ahem INTC).
@turtlebuster, no problem! let me know if there's a particular stock you'd like analysis on
jaxdog
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Great charting. I've taken the liberty to expand on your charting.
EBITDAtiger
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@jaxdog, thank you, my fellow trader! awesome charting as well and that's what we're here for, is to expand on ideas! IBM just gained some positive coverage from analysts today. Once it breaks past that 2.5-year resistance I think the trades gonna get some legs
jaxdog
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@EBITDAtiger, I agree 100% And, it's not too far above current price. In fact if I trade this one, I'll use that now resistance area as a defined risk area. All TBD.