$IBM with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:IBM after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
IBM trade ideas
IBM Options Ahead of EarningsIf you haven`t sold IBM here:
Then analyzing the options chain of IBM International Business Machines Corporation prior to the earnings report this week,
I would consider purchasing the 135usd strike price Puts with
an expiration date of 10/20/2023,
for a premium of approximately $4.90.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
IBM: Processing… 💻IBM is still processing wave b in red – the second step of a three part downwards movement, which should soon lead to the low of wave B in turquoise. As soon as wave B in turquoise is complete, the share should turn upwards to climb above the resistance at $139.47. There, IBM should conclude wave 2 in green before a significant downwards movement should take hold. However, there is a 35% chance that IBM could rise above $139.47 directly to develop a new top of wave alt.A in turquoise first before turning downwards again.
Mega running triangle in the makingI inadvertently stumbled upon the chart of IBM last night and I was intrigued with the pattern that has developed over the past thirty plus years since 1999 (the dot.com crisis).
Economists and market analysts have been talking about the US economy undergoing a recession of late because of the interest rate hike and the sticky inflation, with the US stock market showing signs of bearishness.
I am not on the side of the bearish camp and I believe that we are currently undergoing a correction which will end in the foreseeable future. The financial stocks are a good harbinger for the US economy and I believe the correction of the financial stocks is going to end soon. I have been using goldman sachs as a proxy. I will post my analysis of GS when the right opportunity arises.
Back to IBM. I reckon it is on the path of completing the wave E of the 'mega' running triangle that has developed over the 34 years as depicted on the weekly chart. Let me expound on it.
Wave A : W -X - Y formation. W is a flat, followed by X, and Y is a zigzgg.
Wave B : The longest wave in the triangle that explains why we are getting a running triangle. I will breakdown wave B into a W-X-Y formation. Wave W is a abc pattern. I will label this as a elongated flat. 'a' wave is a leading diagonal follow by a steep descent, wave b, and a five waves 'c' wave. Wave X is a regular flat pattern followed by Wave Y, a triangle. It may be difficult to see the triangle legibly on the weekly chart, but can be viewed visibly on the daily chart. Wave B is labelled as a double combination wave. Elongated flat (W)-(X)-triangle (Y).
Wave C : It is a classic zigzig abc pattern. 'a' wave is a five wave impulse pattern with third wave extension. 'c' wave is a expanding ending diagonal.
Wave D : It has sufficient waves to label it as a W-X-Y pattern, but corrective waves are tricky. A decisive breakdown below 125 will give a good indication that wave D is completed and that we are on the path to wave E
Wave A, B,C and D ( white label) are all but corrective three waves. Once wave E is completed in the region of 100. IBM will be riding on its impulse wave C (orange label) to a new high. IMHO.
Major Inflection, Good Dividend PlayMultiple supports lining up, ribbon of emas is lining up, and MACD is building momentum against price action.
Crooked W // Bearish CypherThis pattern is called bearish as it looks like a crooked W and the 1st leg is down.
The 4th leg is an up leg and terminates near the .786.
It is only bearish if you get stuck at the top of that 4th leg since this pattern reverses there.
There is money to be made or a long if you catch a bearish harmonic pattern close to the bottom of the 3rd leg. Valley 2 is lower than valley 1 in the bearish version.
In the Bullish Cypher, peak 2 will be higher than peak 1.
This pattern shares some characteristics with the Shark pattern. The Shark seems to be more common than Cyphers are.
No recommendation.
There are a lot of red candles in a row representing a large amount of selling pressure. This could lead to a pull UP soon.
It is not quite oversold with RSI reading 36.6
Continuation of the trend for IBMIBM is setting up for a continuation of the overall annual trend of the 3 month chart where it looks like IBM will hit close to $200 in the months and years ahead
We have Bullish Divergence, market exhaustion on the annual time frame along with over sold indicators indicating bulls returning to the market.
IBM trend Continuation IBM correcting from the downside and has begun to continue it's annual bullish trend.
Bullish Divergence on the 3Month chart indicating a huge bullish movement above $200 in the coming months ahead.
Oversold and market exhaustion on the downside showing bears are loosing momentum and bulls are entering the market
$IBM LongIBM is holding above 2 VWAP Anhor Weekly Levels
This has huge a move to the upside to 140 and near 150.
This is an AI and Quantum Computer Sentiment Play
I like this for a move to the Upside + 6 Weeks
IBM Options Ahead of EarningsAnalyzing the options chain of IBM International Business Machines Corporation prior to the earnings report this week, I would consider purchasing
Puts with a 120usd strike price and an expiration date of 2024-1-19, for a premium of approximately $6.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
I am interested to hear your thoughts on this strategy.
IBM moving upwardsWe have a break of a falling wedge pattern confirmed by the AI model which found that a movement between 7-10% is likely in the upcoming 30 days based on years of previous data and similar market patterns.
Also see lateral volume to understand where the price can end the first rush.
IBM double bottomsyou can read this chart like a book.. wait for the breakout from the box and add positions above the down trend line
$IBM with a neutral outlook following its earnings #StocksThe PEAD projected a neutral outlook for NYSE:IBM after a positive over reaction following its earnings release placing the stock in drift B .
Bullish IBM to $140No position currently but I'll be looking to buy calls tomorrow morning if this gets a pullback and goes red.
Mixed earnings but very solid free cashflow profile projection, a little growth and job cuts (cost savings).
Expectations:
software sales: Beat
Consulting: In-Line
Infrastructure: Small miss
PT: $140 (supply zone)
IBM daily bearish hammer end of wave 5 expect ABC correctionOrder SELL IBM NYSE Stop 136.56 LMT 136.56 will be automatically canceled at 20230401 01:00:00 EST
IBM daily bearish hammer end of wave 5 expect ABC correction at least.
ABC/DPossible stop under c or under the 50% pull back level.
The target is D and when D is reached, then a pull back or reversal is expected.
No recommendation.
Earnings estimated to be on 4-18 and most analysts appear to have a negative forecast.
EPS (FWD)
9.48
PE (FWD)
13.69
Div Rate (FWD)
$6.60
Yield (FWD)
5.09%
Short Interest
2.84%
Market Cap
$117.66B
IBM Stock Chart Fibonacci Analysis 032723 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 130/61.80%
IBM - New Buy Recommendation, $128.55, Target $2400. Notes to follow;
1. IBM looking to breakout soon;
2. Talking about the "IBM Corridor" and other initiatives below;
IBM long term set upthe set up should speak for itself. broke trend line to the upside, with a pull back to retest trendline BULLISH
IBM TO 125 is a buy Wait for a retracement of IBM to 125$ . Any thing below is a buy and will go back to 140$ by 2024. 11% plus gains possibility
