IBM is Testing Major Support Level of the 18 Year Trend

Price is heading to final support level of the bullish channel, which spans all the way back to the year 2000. Today price fell by as much as 5%, as IBM Q3 report shows slowdown in revenue growth. With dividend yield at 4.3% and PE below 12, IBM looks more and more attractive as a long term investment. Nevertheless, price could fall further to the final support level, potentially to 130.00.