Ibm (ibm) Back On A Growth Path?

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

  1. longtermbull

    longtermbull Administrator Staff Member

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  2. gowiththeflow

    gowiththeflow Senior Investor

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    Mr Buffett has cast a very dark shadow over this one - one to avoid for now if you are risk averse. If you like contrarian bets then time to start picking them up as nobody else will touch them at the moment.
     
  3. longtermbull

    longtermbull Administrator Staff Member

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    Time to buy or wait until price clears the next resistance around $147?
     
  4. Buyonthedips

    Buyonthedips Senior Investor

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    I cant help but think that IBM will come back to life at some stage - yes we know the revamp is taking longer than expected and will likely see more write-offs than many had hoped BUT progress is being made :)
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    The graph is suggesting there could be a little more downside before this one bottoms out - I wonder if some holders are following Buffett's lead and bailing out, leaving an overhang in the market?
     
  6. gowiththeflow

    gowiththeflow Senior Investor

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    Looks like $139ish will be the next support level - if it crashes through there we could see a sharp short term sell-off - contrarian investors will be pricking their ears up in that scenario!
     
  7. longtermbull

    longtermbull Administrator Staff Member

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    This is stuck in an extrememly tight trading range, $140 to $150, and until we see a break either way this is probably one to leave. However, that said, if the restructuring goes to plan then the future IBM will be a very different animal from the one we all know and love. I wonder if they have thought of changing the company's name so they can finally leave the past behind them?
     
  8. gowiththeflow

    gowiththeflow Senior Investor

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    The turnaround in the company's direction and fortunes is obviously not going to plan. Personally, I think there will be a time to buy into the shares and the ongoing market volatility could present a perfect moment. Watch and wait, keep your powder dry!
     
  9. longtermbull

    longtermbull Administrator Staff Member

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