International Business Machines $IBM Dark Pool Trades A Day Before Q3 Release

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Dark pool trades were detected in $IBM stock one and two days before the company’s Q3 financial release.

Dark Pool Trades $IBM Stock

IBM stock chart on October 19, 2022, with dark pool trades marked with orange bars.

Make sure to review this lesson on dark pool trading so that you understand the chart above.

We think the dark pool trading was buy orders because of how $IBM stock rose after the trades hit the tape. A narrative emerges that institutional investors increase long positions ahead of the Q3 release.

IBM RELEASES THIRD QUARTER RESULTS

On October 19, 2022, IBM (NYSE: IBM) announced third-quarter 2022 earnings results. IBM reported Q3 adjusted EPS of $1.81 versus the consensus estimate of $1.77. The company reported Q3 revenue of $14.1B versus the consensus estimate of $13.51B.

“IBM delivered strong revenue growth in the quarter, reflecting our continued focus on the execution of our strategy. Globally, clients view technology as an opportunity to enhance their business, which is evident in the results across our portfolio,” said Arvind Krishna, IBM chairman and chief executive officer. “With our year-to-date performance, we now expect full-year revenue growth above our mid-single digit model.”

IBM beats on earnings and revenue, hikes full-year revenue outlook

IBM beats on earnings and revenue, hikes full-year revenue outlook

IBM Stock Technical Analysis

$IBM stock is in a technical strong downtrend. The stock formed a Head and Shoulders Top pattern in late September 2022.

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