Home
News
- IBM is one of the few companies which has generated a positive return in 2022 despite being worst year for Nasdaq
- Technical indicators of IBM are favoring the bulls. It is currently trading near $140 and has lost 0.12%
International Business Machines Corporation (IBM) is a technology company that provides a range of products and services including cloud computing, artificial intelligence, and cybersecurity. Founded in 1911, IBM has a long history of innovation and is a well-established player in the tech industry.In recent years, IBM has faced some challenges as it shifts its focus towards cloud computing and other emerging technologies. Despite these challenges, the company has remained profitable and has a strong financial position. IBM has remained of the few stocks which has showed positive return despite being a worst year of Nasdaq since 2008. They have generated $752 million in free cash flow in the recent quarter and paid out $1.5 billion in dividends.
IBM has a market cap of over $126.2 Billion and has an EPS of 6.09. It is just down by by a very margin from its 52 week high. Various analysts are expecting a strong rise in IBM stock.
IBM Ready To Jump Above 52 Week High
IBM has continued to outperform in the tech sector. The weekly technical chart of the IBM suggests a consolidated trend in price. On coming to the daily chart the asset price is trading near the value of $140.89 and has seen a drop of over 0.12%. The upside trend of IBM can see a halt near $160. The support of the asset can be seen near $120. It is currently trading above 100 and below 50 DMA. There can be a positive crossover which can push the asset price to a new high.
Conclusion
IBM is all set to acquire Octo which can be a benefit for the IBM. They have a great quarter previously and can repeat the same. IBM stock price can see a strong upside momentum in the future.
Technical Levels
Major Support:$120
Major Resistance:$160
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
