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Next Support Level for Ibm (IBM) is $152.87

By Shiri Gupta

Shares of Ibm (NYSE:IBM) have bearishly opened below the pivot of $154.09 today and have reached the first support level of $153.55. Should the shares continue to fall, the support pivots of $152.87 and $151.65 will be of interest.

Potential upside of 8.2% exists for Ibm, based on a current level of $153.54 and analysts' average consensus price target of $166.14. Ibm shares have support at the 50-day moving average (MA) of $145.51 and additional support at the 200-day MA of $142.04.

Ibm share prices have moved between a 52-week high of $182.79 and a 52-week low of $142.50 and are now trading 8% above that low price at $153.54 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 recommended that its subscribers protect gains by selling shares of Ibm on March 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $173.93. Since that call, shares of Ibm have fallen 11.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts

Ticker(s): IBM