$IBM bounce? potential target $300 (4/5)

Conviction: 4/5
need to break above descending resistance line for confirmation.

depending on speed of ascent, upper channel points to $300 target


General Thesis

• bounced off long-term channel support since 1984-ish recently in 2020
  
• also seems to continue channel since 1999
  
• bounced off short term channel since 2020 lows
  
• weekly RSI about neutral
  

Growth

• Gross margins (50%) is pretty steady, near historical highs
  
• Revenue growth (0.33%) is super low, but recent highs
  

Value

• P/FCF below average (25th percentile)
  
• P/S about average
  

Fundamentals & Balance Sheet

• low debt to asset (<1)
  

Potential Risks

• entry for Weekly RSI is not ideal, could be lower