Put Traders Bombard IBM Stock Before Earnings

The shares of blue-chip IBM (NYSE:IBM) are down 2.4% this afternoon to trade at $126.30, just ahead of the company’s fourth-quarter earnings report — due out after today’s close. IBM stock holds an 11.8% lead over the last 12 months, but has already shed 5.2% in 2022. IBM is seeing support at the formerly resistant 320-day trendline, which put pressure on the shares for much of the end of 2021. Pacing for its sixth monthly loss in seven, the equity is in desperate need of a positive…

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