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Look for Shares of International Business Machines to Potentially Rebound after Yesterday's 4.92% Sell Off

By James Quinn

International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $159.60 to a high of $162.45. Yesterday, the shares fell 4.9%, which took the trading range below the 3-day low of $169.53 on volume of 12.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, International Business Machines has traded in a range of $116.90 to $182.79 and is now at $161.30, 38% above that low. 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%.

Keywords: rebounders International Business Machines

Ticker(s): IBM