IBM stock is gradually recovering from the recent selloff despite a mixed flow of company-specific news. Today’s U.S. inflation report, however, could provide another important test for buyers.
248.70
258.48
IBM announced an expansion of its Apptio platform, adding tools that allow enterprise customers to track AI spending, forecast costs and assess returns on artificial intelligence investments.
Reuters also reported on a legal dispute involving EU agency eu-LISA and a consortium of IBM, Atos and Leonardo over delays in the development of a border-control system. The lawsuit was filed earlier and concerns the development phase rather than the system’s current operations.
Holding $242 keeps IBM's $250–255.60 recovery target in focus
The scenario outlined previously has started to play out. IBM stock held support at $242 and tested the 200-day SMA near $248.
Over the next several days, the recovery could extend toward the $250–255.60 target zone.
Today’s CPI release, however, could significantly increase volatility, so another short-term pullback cannot be ruled out.
A drop below $242 followed by a sustained move under that level would invalidate the base case. In that scenario, the next downside target would be the 50-day SMA near $236.70.
Falling oil prices could ease future inflation pressure
Today’s U.S. inflation report could materially influence expectations for the Federal Reserve’s next policy moves. According to the BLS calendar, the October data will be released on November 10 at 8:30 a.m. ET.
At the same time, lower oil prices could help create a softer inflation backdrop in the following month.
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