Whilst the main market broke another set of new index historic highs, there was sig' weakness in International Business Machines (IBM), which settled -4.2% at $147.53. The Oct'2016 low of $143.91 is a prime target before end month. Mid term outlook is bearish, whilst long term.. still bullish.
Suffice to say... IBM is a company that I realise most of you care little for. Many of you have probably never directly traded it, and I can understand that. Other than earnings, the stock receives very little attention.. whether from traders, or the media hacks of clown finance TV.
With a forward PE in the 11s, a dividend yield of around 4.0%, I've no doubt the 'big/serious' money is picking up IBM at these levels. I can't blame them. Its slow and boring, but the valuation is unquestionably attractive.
Bullish long term... especially if the $143s hold into early August.