IBM where is it going? Did acquiring Red Hat had an effect in SP
Updated
Unfortunately, COVID19 happened and Red Hat was purchased in July of 2019. Hence, the effect of Red Hat to IBM would not be fully realised and would be more gradual over the years. I looked at the techinical play and I found that IBM is still in the downtrend since its peak in 2013 (check weekly charts). In my humble opinion, I really think that if the pandemic did not occur then IBM would likely be trading above 160 today. If we looked at the the daily charts, I cannot help but notice that the price action is currently forming a channel that is a very similar since its last peak at $156.
My trading plan would likely be:
I'd alert at $115 and assess the situation. Then if I take a position, I would sell it at $130.
My trading plan would likely be:
I'd alert at $115 and assess the situation. Then if I take a position, I would sell it at $130.
Comment
No position. IBM lowered its forecast due to COVID19
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