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Look for Shares of Ibm to Potentially Rebound after Yesterday's 3.17% Sell Off

By James Quinn

Ibm (NYSE:IBM) traded in a range yesterday that spanned from a low of $131.65 to a high of $133.87. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $132.90 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Ibm share prices have moved between a 52-week high of $154.36 and a 52-week low of $105.94 and are now trading 24% above that low price at $131.65 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Ibm. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ibm in search of a potential trend change.

Keywords: rebounders

Ticker(s): IBM