Look for Shares of International Business Machines to Potentially Pullback after Yesterday's 1.31% Rise
International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $150.26 to a high of $152.94. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $151.52 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
International Business Machines share prices have moved between a 52-week high of $176.30 and a 52-week low of $116.90 and are now trading 31% above that low price at $152.80 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.3%.
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