Over the past three years, IBM stock was down about 5%, while the S&P 500 was up about 50%. Numerous investors have neglected the stock of the aging tech giant as management struggled to generate steady revenue growth.
Our Analysis:
As long as the price is above the 139.80 level, follow the recommendations below::
- Time frame: D1
- Recommendation: long position
- Entry point: 143.32
- Take Profit 1: 149.70
- Take Profit 2: 149.50
Alternative scenario:
If the level of 139.80 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 139.80
- Take Profit 1: 136.10
- Take Profit 2: 133.90
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