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SmarTrend Watching for Potential Pullback in Shares of Ibm After 1.12% Gain

By Nick Russo

Ibm (NYSE:IBM) traded in a range yesterday that spanned from a low of $147.12 to a high of $148.44. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $147.98 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Ibm share prices have been bracketed by a low of $137.45 and a high of $171.13 and are now at $148.19, 8% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Ibm and will alert subscribers who have IBM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders

Ticker(s): IBM