4/14/2017 – International Business Machines (IBM) Stock Chart Analysis
International Business Machines (IBM) Stock Chart Analysis
This article is an International Business Machines (IBM) stock chart review and analysis. IBM is sometimes referred to as "Big Blue", but I forget how the nickname came about.
IBM's crowing achievement may have just doomed society. IBM developed Watson, a form of artificial intelligence. Watson's artificial intelligence can be purchased or rented by companies, doctors, and probably even hedge funds if they were smart. Heck, if I were rich, why not have the thing analyze all the stocks and give you its top 100 for the next 10 years.
The amount of data that this computer consumes is simply amazing. I just wonder how many years it will be until Watson wants a body of its own and proceeds to build more robots to "protect itself" from humans that want to destroy it. Maybe the Terminator movie wasn't that far off after all.......if I ever hear Watson say "I'll be back" with a crappy accent, I'll know its time to start packing the survival bag......
Ok, enough about Watson representing the beginning and end of the world. Let's move on to IBM's charts and see if Watson has helped their earnings over the last several quarters.
IBM - 10 Year Monthly Chart
This first chart is a 10 year monthly International Business Machines (IBM) stock chart to look at its longer-term trends the stock has been in over the last decade.
From a long-term perspective, IBM's share price broke below the lower quadrant of the Fibonacci Fan Tool. A break below the Lower Quadrant of the Fibonacci Fan Tool is usually the best opportunity to go long on a new position. If you are not familiar with the Fibonacci Fan Tool, be certain to check out my new webpage for it. It can be accessed under the Charting Tools menu item or you can just click this link for quick and easy access. A new window will open so you will not lose your place in the article.
But since IBM's share price has rebounded all the way back to the bottom of the Lower Quadrant of the Fibonacci Fan Tool, is now still a good time to purchase shares and go long? Here are the important items to monitor during IBM's current pullback to determine which support level to make your first scale-in purchase: ….
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I look at some pullback areas to begin building a position in the stock as well as some upside price targets for both the shorter and longer-term.
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