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$IBM bounce? potential target $300 (4/5)
International Business Machines Corporation
Long
$IBM bounce? potential target $300 (4/5)
By asdf098
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Dec 23, 2021
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Dec 23, 2021
Conviction: 4/5
need to break above descending resistance line for confirmation.
depending on speed of ascent, upper channel points to $300 target
General Thesis
bounced off long-term channel support since 1984-ish recently in 2020
also seems to continue channel since 1999
bounced off short term channel since 2020 lows
weekly RSI about neutral
Growth
Gross margins (50%) is pretty steady, near historical highs
Revenue growth (0.33%) is super low, but recent highs
Value
P/FCF below average (25th percentile)
P/S about average
Fundamentals & Balance Sheet
low debt to asset (<1)
Potential Risks
entry for Weekly RSI is not ideal, could be lower
buy
december2021
Support and Resistance
asdf098
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