IBM stock had broken through the long-term trading range, which might potentially trigger extension of a bullish trend.
After implementing AI and cloud computing technology, IBM gets on the radar of traders and hedge-fund managers again. Strong EPS and revenue expectations give more support for the stock. The overall market conditions of a stock market are bullish, as S&P500 and Nasdaq are at their peaks. Earnings season serves as a bullish factor for tech stocks, IBM included.
The critical release coming up this week is PCE index publication on Friday, which might boost volatility both for the US dollar and stocks.
IBM Stock Value Updates Video by Stanislav Bernukhov
Stanislav became involved in the financial markets in 2004. By 2008, he developed into a full-time individual trader, trading futures and options on the Chicago Mercantile Exchange.
