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After Yesterday's Rally of 1.10% Shares Could Potentially Pullback

By David Diaz

Ibm (NYSE:IBM) traded in a range yesterday that spanned from a low of $138.89 to a high of $140.31. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $139.70 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Ibm has traded in a range of $105.94 to $162.11 and is now at $140.31, 32% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Ibm on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.75. Since that recommendation, shares of Ibm have risen 17.9%. We continue to monitor IBM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders

Ticker(s): IBM