IBM oversold, potential rally coming

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Every time the monthly RSI has dropped to todays levels over the last 16 years we have seen a rally. With a retrace of even the smallest run here (39.55%) we could expect a price target of 170. In consideration with the RHT acquisition this could be significantly higher. I don't usually chart off RSI alone so this is purely speculation. I'm not looking to trade options here but I'm buying the stock long.