• Return to Headlines

International Business Machines Crosses Below its 10-day MA (IBM)

By Nick Russo

Today, shares of International Business Machines (NYSE:IBM) have crossed bearishly below their 10-day moving average of $152.91 on a volume of 978K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, International Business Machines has traded in a range of $116.90 to $182.79 and is now at $152.41, 30% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of International Business Machines on March 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $173.93. Since that call, shares of International Business Machines have fallen 11.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses International Business Machines

Ticker(s): IBM