International Business Machines (IBM) is due to report its Q4 earnings after the close of trading on Tuesday. The consensus among sell side analysts seems to be for an EPS of $4.68 and revenue of $21.62 billion. Fundamentals are above my pay grade so let's check out the charts and indicators. IBM was and is my 2020 pick for the year. Let's see if anything has changed in the past three weeks.
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It can safely be said that no one saw this course of events coming.
While still reporting healthy revenue and billings growth, Slack and some other software high-flyers are also seeing some demand headwinds.
Other than taking profits, I'm not interested in putting on new trades.
Let's check and see what the charts look like.