SmarTrend Watching for Potential Rebound in Shares of International Business Machines After 1.73% Loss
International Business Machines (NYSE:IBM) traded in a range yesterday that spanned from a low of $143.96 to a high of $146.93. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $146.36 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, International Business Machines has traded in a range of $116.90 to $176.30 and is now at $144.91, 24% 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%.
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