The increase that has been seen over the past weeks in the share price of International Business Machines Corp. has brought back the stock to major resistance levels on the weekly chart. Reaching this zone could lead to profit-taking and give rise to a correction. Investors should open a short trade and target the $ 151.5.
Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.
Predictions on business development from analysts polled by Thomson-Reuters are tight. This results from either a good visibility into core activities or accurate earnings releases.
The company's attractive earnings multiples are brought to light by a P/E ratio at 13.11 for the current year.
The company is one of the best yield companies with high dividend expectations.
Within the weekly time frame the stock shows a bullish technical configuration above the support level at 140.43 USD
The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
The stock is close to a major daily resistance at USD 163.53, which should be gotten rid of so as to gain new appreciation potential.
According to Thomson-Reuters' forecast, revenue growth prospects are expected to be very low for the next fiscal years.
The company's earnings releases usually do not meet expectations.
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