Ibm (ibm) Back On A Growth Path?

Discussion in 'Investment Charts' started by Chartman, Oct 18, 2017.

  1. Chartman

    Chartman Senior Investor

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    Dont write this one off yet - there will be volatility along the way as a major icon is moving into new areas of business, areas where many might think it has little experience. Change is good but it is never a smooth road - just need to watch out for the pot holes :)
     
  2. Buyonthedips

    Buyonthedips Senior Investor

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  3. longtermbull

    longtermbull Administrator Staff Member

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    I was a little surprised to see the shares plummet below the $150 support line with the next support level at just under $145. Personally, if they get down to $145 I think it will be time to start picking up small tranches of stock. As the saying goes, catching the bottom of a share price move is like catching a falling knife, dangerous. However, picking up small tranches of stock on the way down, assuming you are still positive in the longer term, is for me the perfect strategy.
     
  4. Buyonthedips

    Buyonthedips Senior Investor

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    Dead cat bounce or more downside in the short term? I still think this old beast is changing and adapting which is good news in the longer term. I would still be looking to buy small tranches even at this level.
     
  5. gowiththeflow

    gowiththeflow Senior Investor

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    The share price chart will soon reach a crunch point with a lot of trend lines converging - either the share price will break out or fall. If I was a gambling man I would say the share price is due to break out on the upside after a period of consolidation.
     
  6. Chartman

    Chartman Senior Investor

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    It will be a critical few weeks for the IBM share price with all manner of support and resistance levels starting to converge - placing pressure on the share price. For what its worth I think the shares will breakout on the upside fairly soon but we shall see.
     
  7. longtermbull

    longtermbull Administrator Staff Member

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    Keep a close eye on this one as the shares have broken out on the upside and, if this holds, there could be some significant upside. Maybe the new business strategy is starting to work?
     
  8. Buyonthedips

    Buyonthedips Senior Investor

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    One step forward two steps back at the moment - surely there cant be much more bad news to come? I would have thought the new management would have done a "kitchen sink" job by now and got all of the losses, writedowns and negative issues out of the way. Investors/traders will soon start to lose interest again.
     
  9. gowiththeflow

    gowiththeflow Senior Investor

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    While I firmly believed that the shares were on an upward trend, the management appear unable to deliver on their promises just now. One to leave the moment!
     
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