$IBM bounce? potential target $300 (4/5)
Conviction: 4/5
need to break above descending resistance line for confirmation.
depending on speed of ascent, upper channel points to $300 target
General Thesis
Growth
Value
Fundamentals & Balance Sheet
Potential Risks
need to break above descending resistance line for confirmation.
depending on speed of ascent, upper channel points to $300 target
General Thesis
- bounced off long-term channel support since 1984-ish recently in 2020
- also seems to continue channel since 1999
- bounced off short term channel since 2020 lows
- weekly RSI about neutral
Growth
- Gross margins (50%) is pretty steady, near historical highs
- Revenue growth (0.33%) is super low, but recent highs
Value
- P/FCF below average (25th percentile)
- P/S about average
Fundamentals & Balance Sheet
- low debt to asset (<1)
Potential Risks
- entry for Weekly RSI is not ideal, could be lower