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International Business Machines Set to Possibly Rebound After Yesterday's Selloff of 4.61%

By David Diaz

International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $147.43 to a high of $150.61. Yesterday, the shares fell 4.6%, which took the trading range below the 3-day low of $152.27 on volume of 3.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of International Business Machines have traded between a low of $116.90 and a high of $176.30 and are now at $147.88, which is 27% above that low price. 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 is tracking the current trend status for International Business Machines and will alert subscribers who have IBM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders International Business Machines

Ticker(s): IBM