A 26-year-old trendline suggests $IBM has more upside from here, technician says via TradingNation
div > div.group > p:first-child"> IBM is the second top gainer on the blue-chip index in 2019, adding 28% and roughly $28 billion to its valuations which equals the total market cap of Twitter.
"You have a trend line going back to 1993 and it's held this and I like that a lot," said Bill Baruch, president of Blue Line Futures, on CNBC's"Trading Nation" on Tuesday."On the fundamental side, you've got a dividend yield of more than 4.3% and a [price-earnings ratio] of 12. This is a good longer-term investment.""You've got the 50-day moving average crossing out above the 200, [a 'golden cross' that points to a bullish trend].
Michael Binger, president of Gradient Investments, is more cautious on the stock given its stagnating top-line growth.
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