IBM: A Risky Earnings Trade
IBM Reports after the market closes today. It is probably at or near its fundamental levels even if the report is weak. The chart shows a strong support level as the stock price is at the neck of the bottom completion level.
IBM is in a long term trading range when viewed on a long term trend. The problem is a weak CEO who has failed at reinvention and a stock that is pricey for its growth potential.
However, it has more upside potential than downside. It would take a really negative report to create a strong run down. That is not likely.
PSHI is very low so less savvy investors own almost half the outstanding shares. This means trading the earnings report is riskier.
Martha Stokes, CMT
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