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JimVanMeerten (58.52)

Big Blue keeps going strong



October 13, 2011 – Comments (0) | RELATED TICKERS: IBM


Big Blue - International Business Machines (IBM) has been around for a long time and just keeps reinventing itself to keep up with providing whatever businesses need.  They see the future in cloud computing and data analytics and are proactive in their R&D.  A look at the Barchart provided graph of the weekly trading activity vs the 20, 50 and 100 week moving averages over the lat 3 1/2 years hardly shows a slowing recession has been here:

Barchart technical indicators:

1 - 100% Barchart price momentum technical buy signal

2 - Trend Spotter technical buy signal

3 - Trading above its 20, 50 and 100 day moving average

4 - 14 new highs and up 15.31% in the last 20 sessions

5 - Relative Strength Index 67.55% and rising

6 - Barchart computes a technical support level at 184.63

7 - Recently traded at 186.90 with a 50 day moving average of 171.14

Summary:  IBM (IBM) or Big Blue as it's been called for years is one of those stocks with staying power.  You might not get rich but probably never go broke owning it.  Look for slow steady total return in the 10% range annually.  Good conservative play but aggressive growth investors might look elsewhere.

Jim Van Meerten is a Marketocracy Master

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